Pension funds and the 3Com class action.(3Com Corp. settles with Louisiana School Employees' Retirement System, Louisiana Municipal Police Employees' Retirement System)(Brief Article)(Statistical Data Included)

Pensions & Investments, January, 2001 by Kaplan, Robert N.

The 3Com Corp. class-action securities litigation, in which two state retirement systems played an important role, has been settled for $259 million in cash. It is one of the largest securities class-action settlements in history and the largest securities class-action settlement in California.

The lead plaintiffs were two state retirement systems -- the Louisiana School Employees' Retirement System and the Louisiana Municipal Police Employees' Retirement System, each with more than $1 billion in assets -- and two individuals with large losses. Throughout the litigation, the lead plaintiffs played an active role. The action was litigated vigorously for nearly three years. Officials of the state retirement systems participated in multiple mediation sessions,...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.