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Administration June 7, 2011
California Pension Fund Sues Wilshire
June 7, 2011 (PLANSPONSOR.com) - The $2.7 billion Kern County Employees' Retirement Association (KCERA) has sued Wilshire Associates for a loss of about $4 million from investing with Westridge Capital Management.
Reported by
PLANSPONSOR staff
The California-based consultant firm has been accused of breach of fiduciary duty, as well as negligence and for offering misappropriate investment consulting advice to KCERA, according to Wilshire. In a statement, the consultancy claimed it was not responsible for the loss. “Wilshire Associates did everything it was retained to do and did it well.”
More information is at http://t.co/3ubROYs.