US - A group of Pennsylvania pension funds have received a US$23m cash settlement with Time Warner and its AOL subsidiary over allegations the companies issued misleading financial statements that led to the funds paying artificially inflated prices for their securities.
The funds - US$57.1bn Pennsylvania Public School Employees’ Retirement System (PSERS), the $29bn Pennsylvania State Employees’ Retirement System (SERS), the State Workers’ Insurance Fund and the T...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here
