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2 financial advisers suing state of Utah

SALT LAKE CITY (AP) — Two former financial advisers are suing the state of Utah for $358 million, claiming a violation of their constitutional rights during separate investigations by the Division of Securities between 2000 and 2005.

Filed in U.S. District Court, the lawsuit contends that Henry S. Brock and Jay Rice were denied their rights to due process and subjected to unreasonable search and seizure during investigations of their business activities.

Named as defendants in the lawsuit are the state, current and former securities division directors, Utah's governor, attorney general, commerce department director and a securities division investigator.

Utah Attorney General's Office spokesman Paul Murphy says the state's attorneys are reviewing the complaint and will file a response.