Big Law
The U. S. Securities and Exchange Commission Says Rochester, New York, Misled Investors In a $119 Million Bond
The U. S. Securities and Exchange Commission on Tuesday accused the city of Rochester, New York, its former finance director and an advisory firm of misleading investors in a $119 million bond offering, alleging the municipal adviser also failed to disclose conflicts of interest.
The SEC’s complaint names as defendants the city, its former finance director Rosiland Brooks-Harris, as well as adviser Capital Markets Advisors LLC and its principals Richard Ganci and Richard Tortora. The agency alleged the city’s offering documents for a 2019 municipal bond sale on behalf of its school district.
