Lawsuit that alleges Wall Street duped Kentucky pension plan will proceed


The high-profile lawsuit alleging that Wall Street money managers and others caused Kentucky Retirement Systems to gamble as much as $1.5 billion on risky hedge fund investments will proceed. Franklin Circuit Judge Phillip Shepherd on Friday rejected motions of three big hedge fund firms and most other defendants to dismiss the lawsuit filed 11 months ago. Shepherd ordered the parties in the case to confer and submit a schedule for taking depositions and other actions needed for preparing for trial.

(more at the Courier-Journal)

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