US - CalPERS has been awarded US$117.7m settlement in a securities lawsuit brought against Time Warner - significantly lower than the $250m loss the fund said it had incurred as a result of the alleged accounting irregularities.
A CalPERS spokesman said the settlement was “approximately 17 times” more than it would have recovered if it remained in the class action suit. CalPERS general council Peter Mixon said: “We are pl...
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