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Town of Fairfield sues consultant and auditor

March 06, 2009  

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The Town of Fairfield, Connecticut has taken legal action against NEPC and KPMG following its failed $42 million investment in a Bernard Madoff feeder fund.

NEPC was hired as the pension fund's general investment consultant in 2006 and according to a complaint filed by Fairfield in Connecticut Superior Court, the firm touted its alternative investment expertise saying it employed 12 professionals dedicated to alternative assets/hedging strategies who were...

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