STATE LAW DOES NOT CONFER U.S. JURISDICTION IN ILL. TAXPAYER CASE
Rifkin v. Bear Stearns & Co.
An Illinois statute allowing citizens to sue on behalf of a municipality cannot be used to confer federal jurisdiction in a taxpayer's “yield burning” suit against broker-dealer Bear Stearns & Co., the Seventh Circuit has ruled. Rifkin et al. v. Bear...
STATE LAW DOES NOT CONFER U.S. JURISDICTION IN ILL. TAXPAYER CASE
Rifkin v. Bear Stearns & Co.