Nuveen Rival Claims $628 Million in Bond-Market Damage (Correct)

Preston Hollow Capital LLC said in a court filing that U.S. bond-market powerhouse Nuveen LLC should be forced to pay as much as $628 million in damages for trying to coerce banks into not doing business with its smaller rival.

Nuveen’s head of municipal investment John Miller smeared Preston Hollow and wrongfully used his firm’s market power in a bid to blackball its competitor, Dallas-based Preston Hollow said in a court filing earlier this month. It’s the latest salvo in a more than three-year legal battle that’s headed for a July trial in state court in Wilmington, Delaware.

“Preston ...