Sacramento Trims Claims In Muni Derivative MDL

Law360, New York (May 21, 2010, 6:01 PM EDT) -- The Sacramento Municipal Utility District has abandoned its claims against two units of independent financial and investment advisory services company The PFM Group in multidistrict litigation over the alleged price-fixing of municipal bonds.

In a filing Wednesday in the U.S. District Court for the Southern District of New York, SMUD said it had agreed to dismiss its complaint as to PFM Asset Management LLC and PFM Investment LLC without prejudice.

Judge Victor Marrero, who is overseeing the MDL, signed off on the bid Thursday.

SMUD's claims...
To view the full article, register now.