California Sues State Street Bank for Fraud

The California attorney general has filed a suit against the State Street Corporation alleging that State Street Bank cheated California’s two largest pension funds out of almost $57 million. The state alleges that the bank committed the fraud by overcharging the pension funds for foreign exchange trades. Specifically, the complaint alleges that State Street Bank […]

CalPERS Includes Social Activism in Its Investment Guide

The California Public Employees Retirement System will look at climate change issues and board diversity in making investment decisions. CalPERS has assets of $240 billion and is the nation’s largest public pension fund. Its shear size creates significance in the marketplace for its investment guidelines. CalPERS is instituting the environmental guidelines to encourage companies to […]