Cooper: NC Treasurer Violated Law

Attorney General Roy Cooper's office says the state treasurer's office violated North Carolina law by hiring outside attorneys to advocate as part of a class-action lawsuit against mortgage giant Freddie Mac.

Cooper and State Treasurer Richard Moore have been posturing for
position over the high-profile lawsuit that will likely put investor anger of the subprime crisis into the courtroom. Moore oversees the state's multibillion-dollar pension fund for state workers and retirees.

North Carolina was in line to perhaps play a large role in the suit because the state had the largest financial stake -- some $18
million in losses.

Moore hired two outside law firms to convince a federal judge that North Carolina lead the suit. Cooper's office said Friday that violated state law by not getting approval from the attorney general and the governor.

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  • by Anonymous on Nov 28, 2008 at 10:27 PM
    For goodness sakes, can't they get anything right. Please act immediately on behalf of all of those in the pension plan!

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