Bond Giant Nuveen Must Face Claim It Bullied Banks
- Judge finds Nuveen’s speech rights don’t require tossing suit
- Texas-based bond fund says Nuveen seeking to organize boycott
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Preston Hollow Capital LLC can proceed with a defamation lawsuit against municipal bond giant Nuveen LLC, which is accused of running an intimidation campaign designed to decimate its smaller rival.
Preston Hollow presented sufficient allegations to move the case forward, Delaware Chancery Court Judge Sam Glasscock III said Tuesday. The judge rejected Nuveen’s claim that its constitutional rights to freedom of speech allowed it to denigrate Preston Hollow’s business practices, saying that argument needed more examination.