Financial adviser Calvin Grigsby argues Shreveport City Council doesn't have power to sue him


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SHREVEPORT, Louisiana — A state court judge has ordered a lawyer for the Shreveport City Council to appear in court July 14 to explain why the judge shouldn't dismiss the council's lawsuit against financial adviser Calvin Grigsby.

The council sued Grigsby & Associates in February, claiming Grigsby overcharged the city by $53,000 on work he did on a $175 million bond issue in 2011 and should repay that amount.

The Times (http://bit.ly/1zg5EzA) reports that the council and Grigsby disagree on whether he should be paid for one bond issue or for three separate bond issues. Meantime, the council has voted not to continue working with Grigsby.

Grigsby argues that the City Council doesn't have the power to sue him because Shreveport's city charter puts Mayor Cedric Glover in charge of legal matters.


Information from: The Times, http://www.shreveporttimes.com

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