- Associated Press - Friday, March 25, 2016

SANTA FE, N.M. (AP) - The New Mexico Court of Appeals has upheld the validity of more than $2 million worth of settlements in a long-running legal battle over state investment deals.

The Santa Fe New Mexico reports (http://bit.ly/1SlyqaX ) that the court on Thursday upheld the settlements despite finding that a State Investment Council committee that initially approved the settlements in a closed-door meeting violated the state Open Meetings Act.

The settlements are part of an ongoing slew of allegations that the State Investment Council employed a pay-to-play scheme that improperly shaped investment decisions by the Educational Retirement Board in favor of former Gov. Bill Richardson’s supporters.

An investment council spokesman was happy with the ruling.

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Information from: The Santa Fe New Mexican, http://www.sfnewmexican.com

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