TIAA Suit Against Manager Of $967M Fund Nixed By 2nd Circ.

Law360, New York (June 5, 2012, 7:08 PM EDT) -- The Second Circuit on Tuesday shot down an appeal by investors, including the Teachers Insurance and Annuity Association of America, who alleged a fund manager devalued a $967 million trust by selling a real estate mortgage investment for less than it was worth.

The plaintiffs, which also include Minnesota Life Insurance Co., Advantus Series Fund Inc., and Mortgage and Bond Portfolios did not hold at least 25 percent of the certificates issued in connection with the investment and they failed to prove they were adversely affected...
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