Port Authority to Pay $400K to Settle SEC Claims

, New Jersey Law Journal

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The Port Authority of New York and New Jersey has agreed to pay the U.S. Securities and Exchange Commission a $400,000 penalty to settle allegations that it impermissibly raised at least $2.3 billion in bond revenue to pay for transportation projects in New Jersey that did not belong to the authority.

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Originally appeared in print as Port Authority to Pay $400K to Settle SEC Claims It Misled Investors

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