The New York City sergeants' union has announced that its annuity fund had reached a $4.75 million settlement with an investment firm that the fund had sued. The Sergeants Benevolent Association had accused Trainer Wortham & Company of investing far too much in risky technology stocks. The SBA's annuity fund is continuing its lawsuit against another investment firm, which it maintains was unqualified and gave improper advice.
See "Police Sergeants' Annuity Fund Settles With Investment Firm", Steven Greenhouse, The New York Times, May 26, 2005