Mutual fund giant T. Rowe Price has sued Oppenheimer & Co. for its role in underwriting Guardian Bancorp's unsuccessful rights offering last year.

Guardian Bancorp, which failed in January after it did not meet federal capital requirements, raised $19.7 million through the offering in late 1993 and early 1994.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.