KIMBERLY — An investment made by five Wisconsin school districts in 2006 would have been enough to cover more than two-thirds the cost of the 2003 Lambeau Field renovation.
Today, what's left of those dollars wouldn't be enough to cover one year of Green Bay Packers quarterback Aaron Rodgers' salary.
It's a tough break, say attorneys for two financial firms. Still, they argue, it's not fraud as Kimberly and four other school districts allege.
A Milwaukee County judge on Tuesday will hear dismissal motions filed by the firms that argue the districts, which include the Kimberly Area School District, shouldn't be able to recoup a total $200 million through a civil lawsuit.
As of September, the investment held just 3.4 percent of its sale value. The districts filed the lawsuit in September 2008.
Tuesday's hearing, set for 9 a.m. in Judge William Brash's court, will be the first time the matter reaches a courtroom.
Terry Johnson, an attorney for the Royal Bank of Canada, argued in court documents the districts accepted the risk of their investment in collateralized debt obligations and initially benefited from strong returns.div style=border: 0px none ; margin: 0px; padding: 0px; position: absolute; top: 126px; left: 519px; line-height: normal; background-color: transparent; z-index: 99999; width: 70px; height: 46px; visibility: hidden id=rank_jit_com_maindiv style=visibility: inherit;table style=border-style: none solid solid none; border-color: -moz-use-text-color rgb(224, 224, 224) rgb(224, 224, 224) -moz-use-text-color; border-width: 0px 1px 1px 0px; margin: 0pt; padding: 0px; width: 70px; height: 36px; background-color: transparent; font-family: Lucida Grande,sans-serif; font-size: 9px; z-index: 200000; border-collapse: separate; visibility: inherit cellpadding=0 cellspacing=0tbodytr style=background-color: transparenttd style=border-style: none none solid; border-color: -moz-use-text-color -moz-use-text-color rgb(224, 224, 224); border-width: 0px 0px 1px; margin: 0px; padding: 0px; height: 16px; background-color: transparent; text-align: center; vertical-align: middle; visibility: inherit;div style=border: 0pt none ; margin: 0pt; padding: 0pt; background-color: transparent /div/tdtd style=border-style: solid none solid solid; border-color: rgb(224, 224, 224) -moz-use-text-color rgb(224, 224, 224) rgb(224, 224, 224); border-width: 1px 0px 1px 1px; margin: 0px; padding: 0px; width: 20px; height: 16px; text-align: center; vertical-align: middle; background-color: white; visibility: inherit colspan=2 align=centerimg id=rank_jit_pin style=border: 0px none ; margin: 0px; padding: 0px; display: inline; cursor: pointer; width: 16px; height: 16px; vertical-align: bottom; visibility: inherit; background-color: transparent; src=http://www.rankjit.com/extension/img/pin.gif/td/trtr style=border-style: solid none none; border-color: rgb(224, 224, 224) -moz-use-text-color -moz-use-text-color; border-width: 1px 0px 0px; margin: 0px; padding: 0px; background-color: white; visibility: inherittd style=border-style: none none none solid; border-color: -moz-use-text-color -moz-use-text-color -moz-use-text-color rgb(224, 224, 224); border-width: 0px 0px 0px 1px; margin: 0px; padding: 0px; font-family: Lucida Grande,sans-serif; color: rgb(0, 0, 0); font-size: 9px; font-weight: normal; text-align: center; vertical-align: middle; height: 10px; background-color: white; visibility: inherit; align=centerPage rank/tdtd style=border-style: none none none solid; border-color: -moz-use-text-color -moz-use-text-color -moz-use-text-color rgb(224, 224, 224); border-width: 0px 0px 0px 1px; margin: 0px; padding: 0px; font-family: Lucida Grande,sans-serif; text-align: center; vertical-align: middle; background-color: white; border-spacing: 1px; font-size: 14px; width: 20px; height: 20px; color: white; visibility: inherit rowspan=2 align=center valign=middlediv style=border: 0px none ; margin: 1px; padding: 0px; width: 20px; height: 20px; background-color: rgb(132, 132, 132); visibility: inherit;div id=rank_jit_resultContainer style=border: 0px none ; margin: 0px; padding: 0px; background-color: transparent; width: 20px; height: 20px; line-height: 20px; vertical-align: middle; color: white; visibility: inherit; text-align: center5/div/div/td/trtrtd style=border-style: none none none solid; border-color: -moz-use-text-color -moz-use-text-color -moz-use-text-color rgb(224, 224, 224); border-width: 0px 0px 0px 1px; margin: 0px; padding: 0px; height: 10px; vertical-align: middle; background-color: white; visibility: inherit align=centerdiv style=border: 1px solid rgb(224, 224, 224); margin: 0px 0px 1px 1px; padding: 0px; width: 38px; height: 4px; visibility: inherit;div id=rank_jit_gradientContainer style=border: 0px none ; margin: 0px; padding: 0px; width: 19px; height: 4px; float: left; background-color: rgb(0, 153, 51); visibility: inherit/div/div/td/tr/tbody/table/divdiv style=border: 0pt none ; margin: 0pt; padding: 0pt; overflow: hidden; z-index: 9999; font-style: normal; font-weight: normal; font-family: trebuchet ms,arial,helvetica,sans-serif; float: none; position: absolute; left: auto; top: 39.5px; line-height: normal; background-color: transparent; visibility: inherit; width: 10px; height: 10px; right: 50pximg style=border: 0pt none ; margin: 0pt; padding: 0pt; font-style: normal; font-weight: normal; font-family: trebuchet ms,arial,helvetica,sans-serif; float: none; position: absolute; left: 0px; top: 0px; line-height: normal; background-color: transparent; visibility: inherit; z-index: 99999; src=http://www.rankjit.com/extension/img/pointer.gif/div/div |
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