Lawsuit Filed
Against Educators' Fund

COURTS: Investors' civil action alleges that up to $100 million has been lost.
Company officials were unavailable for comment.

by Debora Vrana and John O'Dell

from The Los Angeles Times, Business, Part D Page 1, August 24, 1995
partial reprint; contact The Los Angeles Times for complete text

EXCERPT:

"A lawsuit filed Tuesday alleges that a real estate investment fund that raise as much as $1 billion from 60,000 California educators has lost up to $100 million of the investors' money."


OTHER POINTS:

-- Teachers Management and Investment Inc., was a fund "marketed by teachers for teachers.... (investing) educators' retirement funds in dozens of real estate limited partnerships."

-- Fund may be insolvent.

-- Suit calls for immediate appointment of a receiver to run the company.

For complete text, contact The Los Angeles Times.