Integrated Resources Equity Corporation v. - Supreme Court of Alaska

Integrated Resources Equity Corporation v.

By Supreme Court of Alaska

  • Release Date - Published: 1990-09-07
  • Book Genre: Law
  • Author: Supreme Court of Alaska
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Integrated Resources Equity Corporation v. Supreme Court of Alaska read online review & book description:

FACTS COMMON TO ALL CASES The Fairbanks North Star Borough desired to make a short-term investment of some 20.3 million dollars. The Borough issued
an invitation for investment bids limiting investments to "time certificates of deposit; and bonds, notes and other obligations
of the federal or state governments." Integrated Resources Equity Corporation, a stock brokerage firm, responded to the invitation
by offering shares in the Lord Abbett U.S. Government Fund, a mutual fund which invests solely in U.S. government obligations.

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