Less than one week after they were introduced, Alabama State University has decided to remove itself from two class action lawsuits pending in a federal court here that allege 37 banks, brokers, insurance companies, and investment advisory firms engaged in bid-rigging and price-fixing in the municipal derivatives market.

Freddie Gallot, vice president of finance at ASU in Montgomery, said president Joe A. Lee made the decision to remove the university from the suit.

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