Left Nervous re Lawsuit Against NYC Pension Funds for Divesting FF

Three New York City pension funds --- the New York City Employees’ Retirement System, the Teachers’ Retirement System, and the Board of Education Retirement System --- were sued in May by four NYC employees for breaching their fiduciary duty and divesting from fossil energy companies (see 3 NYC Pension Funds Sued by Workers for Divesting from Fossil Fuels). The plaintiffs allege the divestments have resulted in the loss of billions of dollars that otherwise would have gone to retirees. The left is nervous that this lawsuit may have legs and (gulp) might actually prevail.

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