Judge OKs Pensions' Firing Of Partner In Real Estate Fund

Law360, New York (August 20, 2012, 5:38 PM EDT) -- A Delaware judge on Thursday affirmed five Chicago pension funds' decision to fire the manager of a limited partnership in which they'd invested $66.5 million, finding the manager's alleged inability to submit financial audits on time was a legitimate reason for removal.

DV Realty Advisors LLC had argued that the pension funds failed to show they had acted in good faith when making the removal decision, claiming they asked a consultant to recommend removal so as to avoid unwanted media attention related to DV founder Robert...
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