FINRA Arbitration Upheld for Municipal Bond ‘Customer’ 
By
Published: January 29, 2013
Tags: 4th U.S. Circuit Court of Appeals, Contract, Judge Paul V. Niemeyer
A Virginia healthcare company is a “customer” of the financial services companies it hired to structure its municipal bond offering, and it entitled to FINRA arbitration of its claims that it was fraudulently induced to issue over $234 million in auction-rate municipal bonds; the 4th Circuit upholds the order allowing arbitration to go forward.
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