If you have rows in the collection, you can do this on a single LINQ line. It will return a list of lines with less than two hyphens.
var okStrings = allStrings.Where(s => s.Count(h => h == '-') < 2).ToList();
Judging by how you formatted the list of strings, I assume that you cannot break the comma because it is not a sequential separator. If you can, you can simply use the String.Split method to get each row and replace the variable allStrings above with this array.
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