State treasurer, attorney general fight over pension lawsuit
RALEIGH (AP) — North Carolina's attorney general and state treasurer disagree who will represent state government workers and retirees in a fraud lawsuit.
The News & Observer of Raleigh reported State Treasurer Richard Moore and Attorney General Roy Cooper disagree about a securities fraud lawsuit against Freddie Mac.
The lawsuit alleges that Freddie Mac concealed and misrepresented the company's poor financial practices, which led to huge losses. North Carolina's pension fund lost $18 million.
The newspaper said Moore hired two law firms to convince a federal judge to make the North Carolina Retirement Systems the lead plaintiff. Cooper's chief deputy attorney general, Grayson Kelley, wrote one of Moore's lead attorneys, saying Moore's office has no legal authority to hire lawyers to represent the state.
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