The City of Los Angeles claims Bank of America and others defrauded it by rigging the bidding process for municipal derivatives, derived from sale of municipal bonds. A who’s-who of the financial world makes up the list of defendants, including Bear Sterns and JP Morgan Chase. Click “Government” header to see the rest.
Here are the defendants: Bank of America, N.A.; Banc of America Securities, LLC; Bear, Stearns & Co.; UBS Ag; JP Morgan Chase & Co.; Lehman Brothers Inc.; Merrill Lynch & Co., Inc.; Morgan Stanley; Piper Jaffray & Co.; Wachovia Bank, N.A.; Citigroup, Inc.; AIG Financial Products Corp.; AIG SunAmerica Life Assurance Co., Inc.; Financial Security Assurance Holdings, Ltd.; Financial Guaranty Insurance Co.; AMBAC Financial Group, Inc.; MBIA, Inc., Rabobank Group; Salomon Smith Barney, Inc.; National Westminster Bank, Plc; GE Funding Capital Market Services, Inc.; Trinity Funding Co, LLC; Genworth Financial, Inc.; Security Capital Assurance, Inc.; Natixis, S.A.; XL Asset Funding, LLC; XL Life Insurance & Annuity Co.; CDR Financial Products; Feld Winters Financial LLC; Winters & Co. Advisors, LLC; Cain Brothers & Co., LLC; Natixis Funding Corp.; George K. Baum & Co.; Kinsell Newcomb & De Dios Inc.; Sound Capital Management, Inc.; Investment Management Advisory Group, Inc.; First Southwest Co.; Packerkiss Securities; Morgan Keenan & Co. Ltd.