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Underwriters sued for financing Flint, Mich., pipeline

A lawsuit filed on behalf of minors in Flint, Mich., alleges that three companies proceeded with bonds to finance construction of a water pipeline despite knowledge that the Flint River would be used as an short-term source of drinking water. The litigants claim that without the financing, Flint would not have been able to join Karegnondi Water Authority, which would not have been able to begin building the pipeline.

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