Aleshire & Wynder Stands With Richmond in Lawsuit to Recover Misused Funds

Aleshire & Wynder is proud to represent the City of Richmond, California, in its lawsuit against JP Morgan Chase, Royal Bank of Canada, and former financial advisors Public Resources Advisory Group and The Majors Group. The City seeks to recover tens of millions of dollars in payments made on derivative contracts that did not comply with California law, providing no benefit to the public while draining critical city resources. The lawsuit underscores Richmond’s commitment to financial accountability and protecting taxpayer dollars. “We want JP Morgan Chase and RBC to make the City whole by paying back the money they took from the City in illegal payments,” said Mayor Eduardo Martinez. The City asserts that the banks misrepresented complex financial products as cost-saving measures when, in reality, they were unlawful and detrimental to the City’s finances. Representing Richmond in this matter are City Attorney Dave Aleshire and Floy Andrews of Aleshire & Wynder, L.L.P., alongside attorneys from Keller Rohrback L.L.P. and R. Bradley Miller Law.