Legal Opinion
In Re Taxable Municipal Bond Securities Litigation
District Court, E.D. Louisiana
Decided May 20, 1992No. Civ. A. MDL 863PublishedCited by 3 opinions
1Opinion of the Court
MEMORANDUM AND ORDER
SEAR, Chief Judge.
The taxable municipal bond was created in response to the Tax Reform Act of 1986, which limited the availability of the tax-free status previously afforded municipal bonds. Drexel Burnham Lambert Inc. (“Drexel Burnham”) played a significant role in promoting the taxable municipal bond. From July through October 1986, Drexel Burham underwrote seven substantial bond issues offered by six different municipal authorities. 1 The offering materials stated that the bond proceeds would be used to raise money for salutary public purposes, such as financing the…
2Cases cited40 opinions
- Piper Aircraft Co. v. ReynoSupreme Court of the United States · 1982
- Van Dusen v. BarrackSupreme Court of the United States · 1964
- Griffith v. KentuckySupreme Court of the United States · 1987
- DelCostello v. International Brotherhood of TeamstersSupreme Court of the United States · 1983
- Desist v. United StatesSupreme Court of the United States · 1969
35 more not listed; retrieve them via the Exa API.
3Cited by3 opinions
- In Re United Mine Workers of America Employee Benefit Plans LitigationDistrict Court, District of Columbia · 1994
- Ash v. Dean Witter Reynolds, Inc.District Court, E.D. California · 1992
- Fortenberry v. Foxworth Corp.District Court, S.D. Mississippi · 1993