The California Public Employees’ Retirement System, the nation’s largest public pension, makes frequent appearances in Legal affiliate The Am Law Litigation Daily as a lead plaintiff in securities class actions. But late Tuesday, CalPERS made an unprecedented move in a very different venue: the municipal bankruptcy of San Bernardino, Calif. In an 11-page filing, CalPERS’ lawyers at K&L Gates asked a federal bankruptcy judge in Riverside, Calif., for permission to sue San Bernardino for falling behind its contributions for municipal employee benefits. News of the filing was first reported by Reuters.
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