PROVIDENCE, R.I. -- A federal judge on Friday refused to dismiss a U.S. Securities and Exchange Commission lawsuit that accuses Wells Fargo Securities of defrauding investors in Rhode Islands failed $75 million deal with 38 Studios, the video game company started by former Red Sox pitcher Curt Schilling.U.S. District Judge Jack McConnell on Friday did agree to dismiss a Wells Fargo banker from the complaint, but the SEC immediately said it would refile the lawsuit against him and address the judges concerns about how the complaint was worded.Also on Friday, court records in a separate lawsuit in state court showed that five current and former state officials have been subpoenaed to testify at trial, including former House Speaker William Murphy, and Amy Kempe, a spokeswoman for Attorney General Peter Kilmartin. That civil trial is scheduled to start in October.The SEC sued Wells Fargo and Rhode Islands economic development agency in March. It accuses them of making materially misleading statements when they sold the bonds used to fund the deal.The SEC says they failed to disclose that 38 Studios needed at least $75 million but would receive only $50 million of proceeds from the bond offering, leaving a $25 million gap. It also alleges that Wells Fargo was receiving substantial fees for representing 38 Studios while also representing the state agency as bond placement agent and failed to disclose them, a potential conflict of interest.Schilling moved his company from Massachusetts to Rhode Island in 2010, after the agency agreed to give it a $75 million loan guarantee. The deal was financed through bonds offered to investors. Less than two years later, 38 Studios ran out of money and filed for bankruptcy.During a hearing Friday on motions to dismiss filed by Wells Fargo and banker Peter Cannava, Wells Fargo argued that no investors have been harmed because all the bondholders have been paid to date.The companys lawyer, Luke Cadigan, said 38 Studios failure in 2012 had started a process of finger-pointing and Monday morning quarterbacking, and pointed out that the U.S. attorney, FBI, state police and attorney general had all looked at the deal and found no criminal conduct.No investors were harmed, no investors were misled, Cadigan said.He said the investors who bought to binds were sophisticated, institutional investors who knew the risks.Cannavas lawyer said his clients life has been turned upside down by the lawsuit.Hes a 30 year-old banker who now finds himself thrown into this fiasco because he was one of many people, involved in the deal, lawyer Brian Kelly said, adding, No doubt the Rhode Island investors got a bad deal here, but thats not Mr. Cannavas fault.The SEC argued it was irrelevant that bondholders have been paid and said their level of sophistication did not matter. SEC lawyer Kathleen Burdette Shields called it a simple and straightforward fraud. She said a bank acts through its employees, and Cannava knew there was a funding gap of $25 million.The judge said the SECs action against Cannava failed to sufficiently show that he acted knowingly or recklessly in the matter. Shields said outside court she would file an amended complaint to address those concerns.While the Rhode Island Commerce Corp. is also named in the SEC lawsuit, it has not made a similar request for a dismissal.In the state court matter, subpoenas filed in state Superior Court showed that Murphy, Kempe and former state budget officer Rosemary Booth Gallogly were subpoenaed last month by a lawyer for First Southwest, which was the financial adviser for economic development agency on the deal.The economic development agency is suing First Southwest and several others, including Schilling and Wells Fargo. That lawsuit has so far resulted in nearly $17 million in settlements. It is scheduled to go to trial in the fall.Murphy, a Democrat, was speaker shortly before the deal came together. His successor, Gordon Fox, is currently in federal prison on unrelated corruption charges.Kempe, at the time, was a spokeswoman for former Gov. Don Carcieri, a Republican who pushed for the deal. Documents released from the lawsuit last year showed that Kempe directed agency staff to call in to radio shows to sell the deal amid harsh public criticism. She ended one email with the line In Schilling we trust!Kempe has said she was just doing her job.One current member of the agencys board, Rhode Island AFL-CIO President George Nee, and a former member, Daniel Sullivan, have also been subpoenaed.Kempe said it is no surprise she was subpoenaed because she was already deposed in the lawsuit. She said Kilmartin had no comment.The other current and former officials and lawyers in the case did not immediately return phone and email messages seeking comment. Authentic Jerseys From China . The 20-year-old Pelicans big man glanced up and smiled widely at the well-wishers -- a fitting end to a day he wont soon forget. Davis responded to his selection earlier in the day as a Western Conference All-Star with 26 points and 10 rebounds, and the New Orleans Pelicans overcame a 10-point fourth-quarter deficit to defeat the Minnesota Timberwolves 98-91 on Friday night. Cheap Jerseys From China . Sgt. Eric ONeal says most of the arrests at Monday nights game were for public drunkenness, though one person was taken into custody on suspicion of trying to steal a seat from the stadium. http://www.wholesalejerseyschinaonline.com/ . Vancouver Whitecaps and Toronto FC failed to make the postseason while Montreal Impact fell at the first hurdle losing heavily to Houston Dynamo in the Eastern Conference Knockout Round. NFL Jerseys From China . -- Anaheim Ducks defenceman Luca Sbisa will be out at least six weeks with a torn tendon in his right hand. Cheap Soccer Jerseys . -- Teemu Selanne scored the first goal of his 22nd NHL season, and the Anaheim Ducks extended the best start in franchise history with their fifth straight victory, 3-2 over the Calgary Flames on Wednesday night. LOUISVILLE, Ky. -- Louisville is determined to get back on the gas against North Carolina State after its high-scoring offense was slowed down by Duke.The visiting Wolfpack not only want to keep the brakes on the seventh-ranked Cardinals and Heisman Trophy contender Lamar Jackson, but knock off a ranked opponent along the way.North Carolina State (4-2, 1-1 Atlantic Coast Conference) faces its second straight top-10 road opponent in Louisville (5-1, 3-1). The Wolfpack would like to make up for missing a huge opportunity in last weeks agonizing 24-17 overtime loss at No. 3 Clemson .The Wolfpack defense did nearly everything necessary to win, forcing four turnovers and returning an interception for a touchdown. N.C. State drove toward a potential game-winning field goal at the end of regulation but missed, opening the door for the Tigers to win in OT. Now the Wolfpacks attention is squarely on Louisville.We believed we were going to win when we went down there and played good enough to win and just didnt get it, N.C. State coach Dave Doeren said. Those guys understand what they have to do to do it again, and we dont have any time to lick our wounds. Were playing, in my opinion, as good or better (a) team this week.Louisville would like to prove it after scoring a season low in points in its 24-14 escape of Duke .The output was more than 30 points less than the Cardinals nation-leading average coming in, and having the ball for just over 22 minutes was a factor. But Louisville made the most of its limited time of possession behind Jackson, who accounted for 325 of its 469 yards on offense along with a touchdown each passing and rushing -- including the late game-sealing score.The Cardinals accepted the outcome but know they could have done better. Improvement is certainly needed against N.C. State, which ranks fifth in the ACC in time of possession (31:50 per game) and has a blueprint to follow in keeping the ball out of Jacksons hands.We neeed to be more consistent, said Louisville coach Bobby Petrino, whose teams are 5-1 against N.ddddddddddddC. State. We didnt have a lot of touches in that game and we had some good drives and came away with no points, so weve got to take care of the football.---Some other things to watch as the Wolfpack visit Louisville on homecoming:HEISMAN HYPE: Jacksons playing down being a Heisman favorite hasnt stopped the school from touting him. Louisville has even launched a website promoting him, Lamar8.com , featuring his eye-popping statistics and lighting up a letter in his name after each game. Jackson said that while it was his childhood dream to win the trophy, the reality of actually being mentioned still hasnt hit me. I dont really think about it.NO RETURNS: Its been something close to that for the Wolfpack punt coverage, which has allowed just two returns for six yards this season. Theyll have their hands full against Cardinals return man Jaire Alexander, who took one back 69 yards for a TD against Florida State and had a 90-yard TD return last week against Duke nullified by an illegal block penalty.GOOD HANDS PEOPLE: Five Cardinals have at least 119 yards receiving with wideouts James Quick and Jamari Staples leading the way. They have 480 and 410 yards respectively with Quicks four TDs topping the receiving corps. Quick ranks fourth in the ACC with 80 yards receiving per game with Staples ninth at 68.3.DAYES OF THUNDER: Ranked behind Jackson and Florida States Dalvin Cook in ACC rushing is Wolfpack senior Matt Dayes with 111.5 yards per contest. Just over half of his 669 yards this season have come after contact, and he has rushed for 100 yards in 10 of his last 13 1/2 games.---AP Sports Writer Joedy McCreary in Raleigh, North Carolina, contributed to this report.---AP College Football: collegefootball.ap.org Wholesale Jerseys Wholesale Jerseys cheap jerseys Cheap Jersyes Cheap Basketball Jerseys Cheap NHL Jerseys cheap jerseys Cheap Jerseys Cheap Jerseys Cheap Jerseys From China Cheap NFL Jerseys ' ' '