UPDATEDMichael Booth, New Jersey Law Journal
Port Authority to Pay $400,000 to Settle SEC Claims It Misled Investors
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 non-authority transportation projects in New Jersey.
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