| Company: | City of Miami |
| Ticker Symbol: | Municipal Bonds |
| Class Period: | Sep-30-05 to Nov-17-09 |
| Date Filed: | May-21-10 |
| Lead Plaintiff Deadline: | Jul-20-10 |
| Court: | Southern District of Florida |
| Allegations: | |
The City of Miami is charged with violating Section 10(b) of the Securities Exchange Act of 1934. Specifically, the Complaint alleges that the City of Miami made fraudulent material misrepresentations and omissions regarding its financial condition to municipal bond purchasers and the investing public. The City of Miami represented itself to investors as financially stable and maintaining an internal structure with adequate controls and procedures to ensure proper budgetary accounting and the City of Miami's overall financial stability, however, the City of Miami was, at all relevant times, improperly shuffling money between various City of Miami accounts in an effort to cover up its exiting fiscal crisis.
Plaintiff seeks to recover damages on behalf of herself and a class of all other individual and institutional investors who purchased or otherwise acquired municipal bonds issued by the City of Miami from September 30, 2005 to November 17, 2009.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
