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Thought this was interesting, hopefully the pension fund does get their investment back otherwise I'm sure the taxpayers will eat the loss.
Link to reuters story http://www.reuters.com/article/idUSN2915356120091229?type=marketsNews
Here is case file info..
Employees' Retirement System of the Government of the Virgin Islands v. Morgan Stanley & Co et al, U.S. District Court, Southern District of New York, No. 09-10532.
Posted : December 30, 2009 2:08 pm
Quite an interesting story!
Posted : December 31, 2009 1:24 pm
So what is different here? Everyone is going after money lost. By the way where were they when they were getting a great return?
I hope they win, but I doubt it.
billd
Posted : December 31, 2009 3:23 pm