[JURIST] The US Securities and Exchange Commission (SEC) [official website] announced [press release] Wednesday that it has charged [order, PDF] the state of New Jersey with securities fraud for failing to disclose to municipal bond investors that it was underfunding two of the state's largest pension plans. Between August 2001 and August 2007, New Jersey sold more than $26 billion in municipal bonds and in the 79 offerings misrepresented material information in regard to the Teachers' Pension and Annuity Fund (TPAF) and the Public Employees' Retirement System (PERS) [official websites] in violation of Sections 17(a)(2) and 17(a)(3) of the Securities...