Judge allows school districts' lawsuit over soured investments to continue

By Amy Hetzner of the Journal Sentinel

Jan. 28, 2010 | Five Wisconsin school districts' legal claims can go forward against banks that district officials say misled them to invest millions of dollars of borrowed money in risky investments, a judge decided Thursday.

In an oral ruling, Milwaukee County Circuit Judge William W. Brash III denied motions to dismiss the districts' lawsuit against Stifel, Nicolaus & Co. Inc. and Royal Bank of Canada Capital Markets, RBC Europe and RBC Holdings.

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