“The high-profile lawsuit alleging that Wall Street money managers and others caused Kentucky Retirement Systems to gamble as much as $1.5 billion on risky hedge fund investments will proceed. … Also named as defendants were major consultants to KRS and several former or current KRS board members and administrators. The suit alleges theses defendants also breached their fiduciary duties as part of a civil conspiracy that masked the severity of the worsening financial condition of the systems.”
Read the full article on: Louisville Courier-Journal (Kentucky)