SDCERS v. Allianz Global Investors US LLC, et. al

On November 13, 2020, the Board met in closed session and directed staff to negotiate an agreement with counsel and then file a lawsuit against Allianz Global Investors US LLC (AllianzGI) and other entities related to the losses suffered by SDCERS in the AllianzGI Structured Alpha Fund 500. The Board voted 11-0 as follows:  Yes: Carol Broad, Carina Coleman, Thomas Battaglia, Charles Hogquist, George Kenney, Louis Maggi, Thanasi Preovolos, Clifford Schireson, Roberta Spoon, Almis Udrys, and Jeffrey Wallace. Paul Kaufmann and Michael McBride were absent.  On December 30, 2020, SDCERS' counsel filed a lawsuit against AllianzGI in New York State Court.