Frixxxx
06-23-2010, 12:23 PM
How many investments can we sue for losses? How about they sue the guy that bought 19 million shares of BP stock. Where's the mitigation 19,000,000 * 60 = 1,140,000,000 which equates to 15% of the fund at it's height? How about suing for mismanagement???
Read:
NY pension fund to sue BP for investment loss
NEW YORK (Reuters) - New York state's pension fund plans to sue BP Plc to recover losses from the drop in the company's stock price following the worst oil spill in U.S. history, Comptroller Thomas DiNapoli said on Wednesday.
New York's Common Retirement Fund has a long history of serving as the lead plaintiff in shareholder lawsuits. DiNapoli said the fund owned more than 19 million shares when the Deepwater Horizon rig exploded in the Gulf of Mexico in April.
DiNapoli, the sole trustee of the $132.6 billion state pension fund, has hired law firm Cohen Milstein Sellers & Toll to represent the fund.
Read the rest of the crap here (http://finance.yahoo.com/news/NY-state-pension-to-sue-BP-rb-1320850283.html?x=0&sec=topStories&pos=4&asset=&ccode=)
Read:
NY pension fund to sue BP for investment loss
NEW YORK (Reuters) - New York state's pension fund plans to sue BP Plc to recover losses from the drop in the company's stock price following the worst oil spill in U.S. history, Comptroller Thomas DiNapoli said on Wednesday.
New York's Common Retirement Fund has a long history of serving as the lead plaintiff in shareholder lawsuits. DiNapoli said the fund owned more than 19 million shares when the Deepwater Horizon rig exploded in the Gulf of Mexico in April.
DiNapoli, the sole trustee of the $132.6 billion state pension fund, has hired law firm Cohen Milstein Sellers & Toll to represent the fund.
Read the rest of the crap here (http://finance.yahoo.com/news/NY-state-pension-to-sue-BP-rb-1320850283.html?x=0&sec=topStories&pos=4&asset=&ccode=)