Dr. William H. WITHERS, Dr. Dorothy N. Naiman, Dr. Mark W. Zemansky, Plaintiffs,
v.
TEACHERS' RETIREMENT SYSTEM OF the CITY OF NEW YORK, Robert Christen, Victor F. Condello, Bernard Goldberg, Harrison J. Goldin, Reuben W. Mitchell, James F. Regan, Joseph Shannon, Defendants,
and
United States of America, Intervenor-Defendant.
United States District Court, S. D. New York.https://leagle.com/images/logo.png
March 9, 1978.
March 9, 1978.
Attorney(s) appearing for the Case
Kaplan, Kilsheimer & Foley, New York City, Kohn, Milstein & Cohen, Washington, D. C., for plaintiffs; Michael D. Hausfeld, Washington, D. C., Robert N. Kaplan, New York City, Herbert E. Milstein, Harold E. Kohn, Washington, D. C., of counsel.
Allen G. Schwartz, Corp. Counsel, New York City, for defendants; James G. Greilsheimer, Judith A. Levitt, New York City, of counsel.
Robert B. Fiske, Jr., U. S. Atty. for the Southern District of New York, New York City, for intervenor-defendant United States of America; Kent T. Stauffer, Asst. U. S. Atty., New York City, of counsel.
United States District Court, S. D. New York.
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 funds1 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...
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