LA State Retirement Systems may get Millions

The Times-Picayune reports that the Teachers Retirement System of Louisiana and the Louisiana State Employee Retirement System, or LASERS, could be among the largest beneficiaries of a $300 million class-action settlement with Bristol-Myers Squibb Co. The settlement stems in part from the cancer drug scandal that also engulfed Martha Stewart. The company "announced Friday that it had reached an agreement in a case in the U.S. District Court in the Southern District of New York against the company and its current and former officers, accused in the civil suit of artificially inflating profits and stock price to the detriment of shareholders."

Posted by AJR at August 3, 2004 12:09 PM