Arkansas Teacher Retirement System Now Wants to Stay in Controversial Securities Lawsuit

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June 08, 2018

Shortly after the Arkansas Teacher Retirement System’s (ATRS) Board of Trustees recommended its executive director withdraw as lead plaintiff in a scandal-ridden securities lawsuit, he told a Massachusetts federal judge that ATRS will stay on, Arkansas Times reports.

In a statement filed with the court, ATRS Executive Director George Hopkins said he wants to stay in the case despite the “imperfection” in the case. The retirement system is the lead plaintiff in a $300 million securities lawsuit against State Street Corp., which has been embroiled in an attorneys’ fee scandal. The judge in the class questioned ATRS’ relationship with one of the plaintiffs’ firms accused of overbilling for work, and also recommended ATRS withdraw from the case.