LOS ANGELES - The trial over a New Jersey bank's libel lawsuit against a monthly newsletter for municipal bond investors opened this week with testimony claiming that the newsletter lied about the bank's certificate of deposit college investment product.

Peter A. Roberts, chairman of Princeton, N.J.-based College Savings Bank, told the jury he was "shocked, distressed, [and] concerned" about an article published in the Oct. 1, 1991, issue of the Palm Springs-based California Municipal Bond Advisor, published by Zane B. Mann.

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