Iowa's state pension fund files lawsuit against New York firm - KWWL - Eastern Iowa Breaking News, Weather, Closings

Iowa's state pension fund files lawsuit against New York firm

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The Iowa Public Employee's Retirement System is suing an auditing firm based in New York. The suit alleges the company, Deloitte & Touche, failed to detect theft that cost the pension fund millions of dollars. The lawsuit says the firm issued unqualified audit reports that the fund relied on in purchasing fraudulent securities.

The lawsuit was filed in a New York federal courtroom last week. A Deloitte spokesman says the lawsuit has no merit. They say their employees didn't audit the financial statements of the entities in which the alleged fraud occurred.

 

 

 

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