04 March 2014
In papers filed Wednesday (Feb. 26) lawyers for Davenport & Co LLC renewed its request to have the lawsuit against it dismissed. It also asked the court to deny the Board’s attempt to amend its complaint filed Jan. 8.
A hearing on the matter is set for 11 a.m. on March 4 in Fluvanna County Circuit Court.
In 2008, the Board sought advice about financing the new high school. In September of 2011 the Board filed a lawsuit claiming Davenport & Co LLC, who had been the Board’s financial advisor for several years, gave them bad advice.
That bad advice caused the county to pay more than necessary for bonds to build the high school and lined Davenport’s pockets at the county’s expense, the suit contends.