Nuveen Can’t Escape Preston Hollow Lawsuit Over Blackballing (2)

Nuveen LLC must face a lawsuit by Preston Hollow Capital LLC accusing the bond-fund giant of blackballing its smaller rival, extending a legal brawl over Nuveen’s business tactics that began almost four years ago.

A federal judge in New York Tuesday rebuffed Nuveen’s request for dismissal of the antitrust complaint that accuses John Miller, the firm’s head of municipal investments, of organizing a boycott of Preston Hollow that cost the Dallas-based firm $100 million in business.

The case can proceed because Preston Hollow “plausibly alleges” non-competitive agreements between Nuveen and bond brokers, U.S. District Judge Kevin Castel said in ...