4 ms·
You should call a securities lawyer and also the legal department of the pension, and threaten to sue. Whichever idiots have done this deserve to suffer some co
by numair 4y ago
You should call a securities lawyer and also the legal department of the pension, and threaten to sue. Whichever idiots have done this deserve to suffer some consequences — even if you sue and it gets tossed out, they will think twice before trying some sort of ridiculous nonsense like this again.
Pensions are extremely difficult to pitch for any sort of deal, even when it’s safe and makes sense. There is definitely some sort of back-channel relationship that led to this deal. You need to figure out how this happened, because there’s likely to be more of this sort of corrupt junk in your pension’s portfolio.
You should also question how economically benefiting from proof of stake mining has any place in any fund that purports to care about ESG (that applies to everyone!).
- JimmyRuska 4y agoMaybe they were offered more guarantees on their investment, or they already exited that position after a heads up. For Celsius, saying a major pension fund was a key investor was worth a lot.
- SoftTalker 4y agoIt's pretty obvious. Look at the history of big union pensions in the USA, e.g. the Teamsters.
- 908B64B197 4y agoI wonder if there's indeed grounds for a class action against those who made the due diligence work. Should it be found that they might not have acted in the fund's best interest or that there was some back-channeling the repercussions might be interesting. But your money is definitely gone. Now, on the other hand, forcing everyone to invest in that fund 10% of their earnings, considering the huge amount of risk they are taking and the very speculative nature of their investments... that sounds like something else that would be great to challenge in courts.