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BUSINESS
January 15, 1999 | From Bloomberg News
Marketing specialists who helped package $1.125 billion in Orange County bonds agreed to settle regulators' charges that they negligently failed to disclose the risk of the investments. The settlement by Jeffrey Leifer and David Leifer of Los Angeles-based Leifer Capital Inc. is the latest enforcement action stemming from Orange County's financial collapse. The county sought bankruptcy protection in 1994 after sustaining $1.64 billion in losses.
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BUSINESS
January 15, 1999 | From Bloomberg News
Marketing specialists who helped package $1.125 billion in Orange County bonds agreed to settle regulators' charges that they negligently failed to disclose the risk of the investments. The settlement by Jeffrey Leifer and David Leifer of Los Angeles-based Leifer Capital Inc. is the latest enforcement action stemming from Orange County's financial collapse. The county sought bankruptcy protection in 1994 after sustaining $1.64 billion in losses.
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BUSINESS
January 15, 1999 | Bloomberg News
Marketing specialists who helped package $1.13 billion in Orange County bonds agreed to settle Securities and Exchange Commission charges that they negligently failed to disclose the risk of the investments. The settlement by Jeffrey and David Leifer of San Francisco-based Leifer Capital Inc. is the latest enforcement action stemming from Orange County's financial collapse. The county sought bankruptcy protection in 1994 after sustaining $1.7 billion in losses.
CALIFORNIA | LOCAL
May 18, 1996 | DEXTER FILKINS, TIMES STAFF WRITER
Several prominent Wall Street investment firms agreed Friday to pay $4.4 million in damages to holders of Orange County bonds, marking a major settlement in litigation stemming from the county's bankruptcy. The firms did not admit to any wrongdoing. The plaintiffs, who had bought Orange County municipal bonds, alleged that they were the victims of a "fraudulent scheme" that resulted in their paying more for the bonds than they were actually worth.
BUSINESS
December 24, 1997 | JOHN O'DELL, TIMES STAFF WRITER
Orange County municipal bondholders burned by the county's 1994 bankruptcy have agreed to a settlement proposal in which they would be paid $3.1 million in damages by Merrill Lynch & Co. and four other Wall Street investment firms that marketed the bonds. The five firms would be the last of 14 investment houses to settle the suit, which bondholders filed in 1995. The others agreed last year to pay $4.4 million in damages to the bondholders, mainly institutional investors.
NEWS
January 30, 1998 | E. SCOTT RECKARD, TIMES STAFF WRITER
Ending the only federal case against a brokerage linked to Orange County's bankruptcy, a Wall Street firm and two employees agreed Thursday to pay $870,000 to settle charges they failed to disclose the risks of investing in county bonds. The Securities and Exchange Commission had accused C.S. First Boston Corp. of intentional fraud and reckless conduct in helping the county sell $110 million in pensions bonds just before it declared bankruptcy in December 1994.
NEWS
October 3, 1995 | DEBORA VRANA, TIMES STAFF WRITER
Federal officials investigating Orange County's bankruptcy are contacting bond firms, lawyers and county officials this week, informing them that they may be subject to civil charges for violations of securities laws. Several firms involved in the county's finances on Monday denied they had received such notices, but a source said that several of the firms would be contacted soon by the U.S. Securities and Exchange Commission.
CALIFORNIA | LOCAL
December 14, 1993 | JEFFREY A. PERLMAN, TIMES URBAN AFFAIRS WRITER
In the world of Wall Street moguls, Jeff Leifer isn't even on the map. But the Santa Monica-based Leifer has parlayed an initial $25,000 contract awarded in 1991 as financial adviser to the Orange County Transportation Authority into fees totaling $815,000--in just two years. All but the first agreement with OCTA came without competitive bids.
BUSINESS
October 3, 1995 | DEBORA VRANA and DAVAN MAHARAJ, TIMES STAFF WRITERS
Federal regulators investigating Orange County's bankruptcy have notified at least two major Wall Street bond firms and former county Treasurer-Tax Collector Robert L. Citron that they may have violated securities laws, sources said Monday. As part of its 10-month investigation, the U.S. Securities and Exchange Commission has warned C.S. First Boston Corp. and Rauscher Pierce Refsnes Inc.
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