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New Landscape for the Small Investor: John Bielema has been quoted in the National Law Journal
March 27, 2006
ATTORNEYS
John R. Bielema
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PoGo's 43 2006 Georgia Super Lawyers
March 16, 2006
43 of our outstanding Georgia attorneys have been selected as 2006's Georgia's Super Lawyers.
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Powell Goldstein Serving as Counsel in Nationally-Watched Municipal Bond Litigation
May 13, 2005
Tom Richey and David Meadows of Powell Goldstein's Securities, Corporate and Fiduciary Litigation practice group are counsel to Stephens Inc., the Arkansas investment banking firm, in litigation closely followed by the municipal bond industry, its primary news publication and two of its principal trade associations. The suit involves the relationship between municipal bond underwriters and the bond insurers who insure over 50% of municipal bonds issued each year. Financial Security Assurance Inc., one of the largest bond insurers, insured $69 million in bonds issued by the Solid Waste Management Authority of Crisp County, Georgia. Stephens served as the underwriter on the bond issue. FSA sued Stephens for securities violations, common law fraud and negligent misrepresentation when the bonds defaulted. Stephens won in the District Court. The trial court dismissed the securities claim, ruling that FSA did not have standing to assert claims under the federal securities laws, and granted summary judgment against FSA on the fraud and negligent misrepresentation claims, holding among other things that FSA could not recover because it failed to conduct its own due diligence on the project. The case is on appeal, with The Bond Market Association and the Association of Financial Guaranty Insurers filing opposing amicus curiae (or friend of the court) briefs. "The Bond Buyer" has published six articles regarding the district court's rulings and FSA's appeal. "The Bond Buyer's" two most recent articles regarding the case may be accessed by clicking on title link to this story.
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