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A surprising but welcome smackdown of the Purdue Pharma settlement that would have let the Sacklers secure their considerable loot.
It isn’t unusual in Kentucky to find corruption. What is unusual is the extent of the paper trial that shows the insider dealing in hiring tainted New York attorney Regina Calcaterra to conduct an at best redundant Kentucky Retirement Systems investigation. Not only did Calcaterra not meet any of essential hiring criteria for the already-questionable Kentucky Retirement System investigation, but even a cursory background search shows that Calcaterra is up to her eyeballs in past charges and allegations of corruption and fraud. The most infamous black mark is that the Department of Justice...
A short update on the Mayberry v. KKR, a pathbreaking public pension suit targeting customized hedge funds designed for the sitting duck Kentucky Retirement Systems by Blackstone, KKR, and PAACO. The litigation is on track to becoming a Jarndyce v Jarndyce level case study in the (mis)use of procedure to delay a case. As we recapped right after the new year: In 2017, eight plaintiffs filed a derivative lawsuit on behalf of the spectacularly underfunded and incompetently/corruptly run Kentucky Retirement Systems, the public pension fund for the State of Kentucky (see former board member Chris ...