DENVER (Legal Newsline) – A Colorado public employee pension fund is suing a company using the same initials it says is tricking its members.
The Colorado Public Employees’ Retirement Association filed suit Sept. 3 in Denver state court against PERA LLC, and the case was removed by the defendant to federal court three weeks later.
PERA LLC is using its name to fool Public Employees’ Retirement Association (PERA) into investments.
“PERA LLC has solicited Colorado’s public employees under false pretenses and has misrepresented that the third-party investment representatives are approved by PERA or the PERA employee, when they are not,” the suit says.
“PERA LLC has contacted thousands of Colorado public employees in an effort to take advantage of and benefit from PERA’s goodwill and reputation with its membership.”