http://the.honoluluadvertiser.com/article/2003/Dec/17/bz/bz03a.htmlSACRAMENTO, Calif. — The nation's largest public pension fund announced yesterday it is filing a class-action lawsuit against the New York Stock Exchange, alleging that fraudulent practices have cost it millions of dollars in recent years.
The $154 billion California Public Employees Retirement System, representing an estimated 1.4 million members, will seek to recover pension fund investment money it lost because of "illegal trading practices on the New York Stock Exchange," said Sean Harrigan, president of CalPERS.
The lawsuit names the stock exchange and seven specialist trading firms. "We're convinced, and we will seek to prove in court, that the New York Stock Exchange not only knew of these rampant problems, and knew they existed, but also perpetuated them," Harrigan said.