Orrick Herrington & Sutcliffe, the largest municipal bond counsel firm, has settled a negligence claim over a defunct charter school’s bonds. “UMB Bank, the successor bond trustee to The Bank of New York Mellon Trust Co., filed the lawsuit against Orrick in December 2016 in Orange County Superior Court, for “alleged professional negligence and alleged violations of the California Securities Act” in connection with a 2012 bond issue for Tri-Valley.”