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Atlanta firefighters sue pension custodian over ‘risky investments’
February 4, 2010
Atlanta firefighters’ pension fund has sued the custodian managing its plan, saying it made several risky investments that could cost them about $1 million.
The lawsuit claims that Chicago-based Northern Trust breached its contract and fiduciary duty with mortgage-backed securities investments that ignored the warnings of the company’s chief economist. The Chicago Public School Teachers’ Pension and Retirement Fund joined in the lawsuit, which was filed Jan. 29 in federal court in Chicago.
Read Article: AJC.Com
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