The city of San Diego has sued Vinson & Elkins, alleging the firm failed to fully investigate problems with the city's troubled pension system and provide a "warts and all" report into a $1.4 billion to $2 billion pension funding shortfall. In its complaint seeking at least $10 million in damages, the city alleges V&E overcharged San Diego for the firm's work from 2003 through 2005 and failed to provide a report that would be accepted by the Securities and Exchange Commission.
August 08, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.com
The city of San Diego has sued Vinson & Elkins, alleging the firm failed to fully investigate problems with the city’s troubled pension system and provide a “warts and all” report into a $1.4 billion to $2 billion pension funding shortfall.
The city brings breach of contract, breach of fiduciary duty and professional negligence causes of action against Houston-based V&E and seeks at least $10 million in damages.
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