Neiman Marcus Group Ltd. is suing Marble Ridge Capital LP after a bankruptcy watchdog said the hedge fund’s founder illegally pressured an investment bank to drop its bid on a lucrative piece of the department-store chain’s business so he could buy it himself.

In the suit filed Wednesday in U.S. Bankruptcy Court in Houston, Neiman is seeking more than $60 million in damages from the hedge fund. The retailer is also asking a judge to subordinate Marble Ridge’s claims against Neiman during its bankruptcy proceedings. Because…

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