A bill already passed by the Mississippi House would have replaced the current board, which public employees elect, amid controversy over increased pension fund contributions.
Mississippi’s public employees' fund, a Louisiana sheriffs’ fund and the state of Rhode Island were among the lead plaintiffs.
Lawsuit alleges ‘false and misleading’ statements by the company, its CEO, and its CFO ‘wiped out’ over $300 million in market value.
Plans in Massachusetts, Mississippi, and other states assure retirees that benefits won’t be delayed, but suspend counseling appointments.