Legal Opinion
Withers v. TEACHERS'RETIREMENT SYSTEM, ETC.
District Court, S.D. New York
Decided March 9, 1978No. 76 Civ. 4474 (WCC)PublishedCited by 33 opinions
1Opinion of the Court
OPINION AND ORDER
CONNER, District Judge:
In November 1975, the Teachers’ Retirement System of the City of New York (the “TRS”) and four other municipal pension funds 1 agreed to purchase New York City bonds in the principal amount of $2.53 billion over a period of approximately two and a half years as part of a financial plan to stave off the City’s potential bankruptcy. The TRS, by authorization of its Board of Trustees, committed $860 million of its retirement fund assets to the purchase. Claiming that the action of the trustees constituted a breach of their fiduciary obligation to the…
2Cases cited19 opinions
- Board of Regents of State Colleges v. RothSupreme Court of the United States · 1972
- San Antonio Independent School District v. RodriguezSupreme Court of the United States · 1973
- Massachusetts Board of Retirement v. MurgiaSupreme Court of the United States · 1976
- United States v. CausbySupreme Court of the United States · 1946
- Weber v. Aetna Casualty & Surety Co.Supreme Court of the United States · 1972
14 more not listed; retrieve them via the Exa API.
3Cited by33 opinions
- Donovan v. BierwirthCourt of Appeals for the Second Circuit · 1982
- Donovan v. BierwirthCourt of Appeals for the Second Circuit · 1982
- Dadisman v. MooreWest Virginia Supreme Court · 1989
- Board of Trustees of the Employees' Retirement System v. Mayor of Baltimore CityCourt of Appeals of Maryland · 1989
- Donovan v. BierwirthDistrict Court, E.D. New York · 1981
28 more not listed; retrieve them via the Exa API.