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NYC pension fund continues with Apple suit

12/18, 10:55am

NYC pension fund lawsuit

A group managing the pension fund for New York City's public servants is continuing a lawsuit against Apple, despite a ruling suggesting it should not, reports say. In November, Judge Jeremy Fogel of the US District Court in San Jose determined that the New York City Employees' Retirement System (NYCERS) had no basis for suing Apple over stock backdating, as it hadn't actually suffered damages. Fogel did recommend joining a derivative suit that would not have produced payouts, but NYCERS has instead chosen to re-file a second version of the suit.

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