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Teacher's Union Settles With Spitzer

Law360 (June 14, 2006, 12:00 AM EDT) -- New York State’s largest teachers union and the Attorney General’s office gave a lesson in compromise Tuesday when they signed a settlement agreement ending a civil fraud probe over the union’s endorsement of ING Group's retirement plans.

As conditions of the settlement, the union—known as the New York State United Teachers, or NYSUT—will implement reforms and shell out $100,000 to cover the costs of the investigation.

“A simple rule that my office has enforced time and time again is that fiduciaries must place the interests of...
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