NM Judge Revives Vanderbilt Pay-For-Play Suit

Law360, New York (February 9, 2011, 8:42 PM EST) -- A state judge has breathed new life into a lawsuit by a former New Mexico official accusing a slew of defendants — including Vanderbilt Financial LLC, Merrill Lynch & Co. Inc., Katten Muchin Rosenman LLP, Richards Layton & Finger PA and Clifford Chance LLP — of causing the state to lose $288 million at the hands of a pay-to-play scheme involving mortgage-backed securities.

Judge Stephen Pfeffer of the Santa Fe County First Judicial District Court said in a ruling Monday that former state education investment official...
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