Friday, March 25, 2005

Next Step in Lawsuits

Uncertainty is the bane of bonds. Look for the California stem cell agency to move after its April meeting to attempt to ease the impact of the refusal by the state Supreme Court to rule on the legality of the agency.

Robert Klein, chairman of the agency, told the San Francisco Chronicle he would offer an “alternative” plan at the board's meeting early next month.

Reporter Bob Egelko
wrote, " 'As long as there's a challenge pending, there's a cloud over issuance of the bonds,' said Deputy Attorney General Tamar Pachter, the state's lawyer.”

One tactic would be for the agency to file its own suit to force a decision on the issues.

Here are links to stories by Paul Elias of The Associated Press and Laura Mecoy of The Sacramento Bee on the case.
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