MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, April 19, 2005 Alliance Not Liable for Enron Investments A jury has ruled in favor of Alliance Capital Management in a lawsuit brought on by a Florida pension administrative board. The jury awarded Alliance $1,113,445 in investment management fees and found Alliance not liable for "failing to properly apply its investment process," according to a company release. In the State Board of Administration of Florida's lawsuit, the administrative board alleged that the money manager was negligent and reckless in buying and continuing to hold Enron stock. The SBA sought $300 million in losses, interest, legal fees and punitive damages from Alliance. According to the release, the SBA will not appeal the decision. Printed from: MFWire.com/story.asp?s=9526 Copyright 2005, InvestmentWires, Inc. All Rights Reserved |