- 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 (https://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.


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

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