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The CalPERS Executive Team Demands a New Loyalty Oath!

The CalPERS Executive Team Demands a New Loyalty Oath!
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CalPERS Desperate Response to Suit Over Illegal Secret Board Discussions and Other Abuses Seeks to Drag Case Out as Long As Possible

In responding to a Public Records Act lawsuit filed by a former board member over violations of transparency statutes, CalPERS is attempting a new variant of the classic legal strategies in litigation: “If you have the facts on your side, pound the facts; if you have the law on your side, pound the law; if you have neither the facts nor the law, pound the table.” As we’ll explain, CalPERS is pounding the table in the guise of pounding on facts. And the reason for trying to fight a Public Records Act suit on facts, when they are nearly always argued on legal issues, is to force a trial. Going to trial is the course of maximum delay, which not only defers embarrassment but is very likely to push a court decision out beyond the early fall board elections. And it also forces Jelincic to lay out more dough in pursuing this case. Even though successful plaintiffs in Public Records Act cases are entitled to the award of legal fees (and this includes if the other side coughs up the re

Former Board Member JJ Jelincic Sues CalPERS Over Illegal Secret Board Discussion After CIO Ben Meng s Abrupt Departure and Hiding of Records Related to $583 Million Overstatement of Real Estate Assets

We seem to be returning to a semblance of the old normal, including CalPERS getting well-deserved public attention for its bad behavior, highlighted in a new lawsuit filed by former board member JJ Jelicic, which we’ve embedded at the end of this post. It’s short and very readable; slightly more than half the pages of the PDF are exhibits. CalPERS under its general counsel Matt Jacobs has more and more openly been taking the position that it is above the law. A slapdown is long overdue. Both of the matters the lawsuit targets are strong on legal and public interest grounds. We’ll get into a bit more detail below. The short overview is that they come out of sweeping and highly dubious denials of two different Public Records Act requests that Jelinicic submitted. One focuses on to impermissible secret board discussions shortly after then Chief Investment Officer Ben Meng’s sudden resignation last August. The second involves CalPERS’ continuing efforts to hide records showi

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