Government
Feb. 4, 2012
LA sues financial firm over pension assets
Los Angeles has filed suit against financial services firm Northern Trust Corp. over allegations the company mismanaged the assets of the city's largest pension system.
Daily Journal Staff Writer
LOS ANGELES - The city attorney's office filed suit against financial services firm Northern Trust Corp. over allegations the company mismanaged the assets of the city's largest pension system.
According to City Attorney Carmen A. Trutanich, the company made high-risk investments - including millions of dollars in mortgage-backed securities - on behalf of the Los Angeles City Employees' Retir...
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