Appeals Court Favors Putnam In Pension Fund Suit

Law360, New York (July 17, 2009, 7:21 PM EDT) -- A Texas appeals court has upheld a decision throwing out claims brought by a pension fund for state workers accusing Putnam Investments and its affiliates of concealing information about market-timing activities that allegedly led the fund to suffer millions of dollars in losses.

The Court of Appeals for the Third District of Texas on Wednesday affirmed a trial court’s grant of summary judgment in favor of Putnam on the Employees Retirement System of Texas’ allegations for lost business opportunity damages, breach of contract and other claims....
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