ALBUQUERQUE (AP) - A federal judge has signed off on a settlement that would return $11.5 million to pension funds that lost millions on mortgage-backed securities sold by a defunct Santa Fe company.
The Santa Fe New Mexican reports U.S. District Judge James Browning of Albuquerque approved the settlement in the case of Thornburg Mortgage earlier this month.
The agreement is still subject to a final hearing on Feb. 25.
The case was first brought in 2009 by the Genesee County Employees' Retirement System in Michigan and has since been expanded to include other groups that lost millions when they purchased mortgage certificates between June 2006 and Dec. 2010.
Under the settlement, the money will be paid by the financial companies or their insurance companies and underwriters who marketed the Thornburg bonds.
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An Albuquerque Police officer involved shooting over the weekend marks the fifth since late October and city officials are taking notice.
A woman was stolen from her daughter's car, a woman who died more than five years ago.
Albuquerque police shot and killed a man Sunday night after responding to an assault call near UNM.
Deputies were led on a chase around 4 p.m. Monday after a person called 911 to report their vehicle had been stolen and was being driven recklessly around Albuquerque.
New Mexico could have hundreds of millions of dollars more to spend as legislators get ready to put together next year's budget in the upcoming legislative session.
Organizers of the Gildan New Mexico Bowl are hoping to shed the disappointing attendance numbers that weighed down the event last year when the Colorado State Rams and the Washington State Cougars face off Dec. 21.