Derivatives Spark Lawsuit for Texas TRS
June 29, 2009
The Teacher Retirement System of Texas has been slapped with a lawsuit regarding its investment in derivatives.
Last week, a group of retirement and active teachers sued the fund over what it said was a “$400 million loss due to investments in derivatives”, the Austin American-Statesman has reported.
The system began investing in the asset class following approval from Legislature in 2007, the report said.
The lawsuit will be discussed in a hearing scheduled for today.
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