NEWS: CalPERS just lost a lawsuit at the U.S. Supreme Court. That decision will cost retirees

The Supreme Court has dismissed a lawsuit by CalPERS that alleged that the pension fund was duped by banks to invest heavily prior to the 2008 market collapse. CalPERS could have chosen to share in a $400 million class action settlement but decided to initiate their own lawsuit. However, CalPERS filed their lawsuit outside the 3 year window set by federal securities laws.

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