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Friday, September 17, 2010

NFOIC Knight FOI Fund supports victorious transparency case involving California pension fund investments

from NFOIC
COLUMBIA, Mo. – A California judge, as a result of litigation backed by the Knight FOI Fund, has ordered the state’s pension fund to release records about a $100 million real estate investment loss.

Judge Charlotte W. Woolard of the San Franicsco Superior Court, in a six-page writ signed on Tuesday, September 14, ordered the California Public Employees' Retirement System (CalPERS) to release records regarding its investment in Page Mill Properties, a controversial East Palo Alto low-income housing development. (You can read the ruling here (312 KB).

CalPERS, the largest public pension fund in the country, lost all of its $100 million stake in the development, but refused to disclose records regarding its investment or the business arrangement surrounding it.

The First Amendment Coalition (FAC), a California-based member organization of the National Freedom of Information Coalition (NFOIC), sued CalPERS in July and was awarded a $3,200 Knight Fund grant by NFOIC to help with its legal expenses in that suit.
Read the rest here.

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