COLUMBUS, Ohio-Ohio Attorney General Dave Yost has filed a lawsuit aiming to remove two members of the retired teachers’ pension fund board, alleging their involvement in a contract steering “scheme” with an “illegitimate” investment firm. The lawsuit comes amidst debates over the fund’s investment strategies and concerns over mismanagement.
Yost’s lawsuit accuses the members of breaching fiduciary duties by allegedly attempting to direct a significant portion of the fund’s assets to the investment firm. However, the accused members deny the allegations. The lawsuit seeks to uncover potential illegal or unethical actions and ensure transparency in managing teachers’ retirement funds.
