BRADENTON, Fla. - A Jefferson County, Ala., circuit court judge Wednesday afternoon dismissed eight of nine defendants from a lawsuit that sought to use a novel approach to invalidate $2.2 billion of sewer auction-rate securities issued by the county and $4.2 billion of related swaps.

The original suit, filed Aug. 28 in U.S. District Court in Birmingham, asked the court to set aside the Series 2003B and C sewer bonds and swap transactions because they were based on public contracts that were "allegedly obtained through the bribery and corruption of one or more public officials."

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