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They allege documents related to the $119 million bond offering were outdated, and didn't mention the RCSD's $25 million budget shortfall and overall financial distress.
The Securities and Exchange Commission has charged the City of Rochester, New York, its former finance director, former CFO and their municipal advisor with misleading investors in a $119 million bond offering.
The Security Exchange Commission charged Rochester, NY, and the city’s former Executives and Municipal Advisor with Misleading Investors on Tuesday.