The court, however, did not issue an injunction against Nuveen and insisted that Preston Hollow should have instead sought monetary damages.
At the time Preston Hollow said it would “vigorously pursue” monetary damages in the original claim. The firm is now suing for damages of not less than $100 million.
Dallas-based Preston Hollow CEO Jim Thompson said that “Municipal borrowers deserve a truly competitive marketplace where they are able to select the capital provider that meets their needs in funding their vital projects, not the needs of a large money manager like Nuveen. This is, in essence, the very injustice that the Vice-Chancellor exposed.”
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