Northern Trust Sued by Los Angeles City Attorney for Pension Securities Lending LossesLos Angeles City Attorney Carmen A. Trutanich has filed a $95 million lawsuit against Northern Trust claiming the firm placed assets of the Los Angeles City Employees’ Retirement System (LACERS) in high-risk securities as part of the pension’s securities lending program. That apparently resulted in unexpected losses for the public pension in 2008. ...The full article is available to registered visitors. |
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Mandate Watch
01 Dec 2011- Provider: BNY Mellon
- Client: China Construction Bank
- Asset Value: Undisclosed
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