The U.S. Securities & Exchange Commission has subpoenaed Miami-Dade County and the city of Miami in an apparent search for detailed financial information on the Miami Marlins, according to By Charles Rabin, Martha Brannigan and Patricia Mazzei of the Miami Herald.
The subpoenas center around the Marlins' new stadium, more than 75% of which is being paid for by the city and county, and focus on the question of whether the city and county did the proper research to determine what the Marlins could have contributed. According to the Herald report:
The subpoenas, signed by SEC senior counsel Drew D. Panahi, say: “We are trying to determine whether there have been any violations of the federal securities laws. The investigation and the subpoena do not mean that we have concluded that Miami-Dade County or anyone else has broken the law.”
The investigation is also exploring the possibility of unlawful contributions surrounding the stadium's construction.