From: RDShatt
To: ersinfo@rsa-al.gov
Sent: 11/14/2008 4:39:30 A.M. Central Standard Time
Subj: Letter for Dr. David Bronner re: Middlesex County Retirement System
Letter for Dr. David Bronner re: Middlesex County Retirement System
Dear Dr. Bronner:
I have sent the below email to Mr. Thomas Gibson, Chairman of the Middlesex County Retirement System in Massachusetts. In my email to Mr. Gibson, I ask why the Middlesex County Retirement System is the lead plaintiff in a class action lawsuit against Monster Worldwide, Inc. that aids and abets plaintiffs' lawyers in their enterprise of having shareholders of corporations sue themselves to recover investment losses the shareholders have experienced and to have the shareholders make circular payments to themselves (that don't compensate for the losses because the shareholders are effectively making payment to themselves), all so that the plaintiffs lawyers can take a big cut and leave the shareholders all the poorer.
Our country is on the brink of its worst economic crisis in decades. The Retirement Systems of Alabama and other governmental retirement systems, as well as thousands of private pension plans, and millions of 401(k) owners, have collectively experienced trillions of dollars of losses in the financial markets, while plaintiffs lawyers are going around the country having shareholders sue themselves in order that the plaintiffs lawyers can collect hundreds of millions of dollars of fees for themselves.and make the shareholders, including The Retirement Systems of Alabama, all the poorer.
Is my analysis correct? Am I missing something here? Why aren't governmental retirement systems screaming bloody murder about this? Would you mind taking the time to answer these questions?
Thank you.
Sincerely,
Robert Shattuck
3812 Spring Valley Circle
Birmingham, AL 35223
(205) 967-5586
[email sent to Mr. Thomas Gibson]
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