Daily News

State treasurer, attorney general fight over pension lawsuit

Friday, October 31
(updated 7:31 am)

RALEIGH (AP) — North Carolina's attorney general and state treasurer disagree who will represent state government workers and retirees in a fraud lawsuit.

The News & Observer of Raleigh reported State Treasurer Richard Moore and Attorney General Roy Cooper disagree about a securities fraud lawsuit against Freddie Mac.

The lawsuit alleges that Freddie Mac concealed and misrepresented the company's poor financial practices, which led to huge losses. North Carolina's pension fund lost $18 million. (more…)