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Lord Abbett sues Citi over Las Vegas monorail bonds
12 January 2012
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[lord abbett]
[citi]
[las vegas]
[nevada]
[ambac]
The Lord Abbett Fund has sued Citi over a secondary market purchase of bonds issued by the Las Vegas Monorail Corportation. The suit alleges that the underwriter knew that a ridership estimate of 35 million passengers per year and advertising revenue of $8.1 million for the 6.24km line was too optimistic, in part because it...
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