LexisNexis® Legal Newsroom
The Securities & Exchange Commission’s First Action Against a State

The SEC filed its first action against a state, charging New Jersey with fraud in connection with multiple offerings of municipal bonds dating back to 2001. In the Matter of State of New Jersey , Adm. Proc. File No. 3-14009 (Aug. 18, 2010). The Order for Proceedings alleges fraud in violation...

SEC versus New Jersey

Fuggedaboutit! New Jersey became the first state ever charged by the SEC for violations of the federal securities laws. They gave up without a fight and agreed to settle the case, without admitting or denying the SEC's findings. This matter involves the sale of over $26 billion in municipal...