Skip to comments.Fox: mayoral decrees to force local governments to sell all gun control investments unlawful
Posted on 01/28/2013 11:24:10 AM PST by pabianice
Per Jay Sekulow, Chief Counsel of the American Center for Law and Justice (ACLJ), today's announcements by Leftist mayors that they will sell their local governments' investments in gun companies is Tortious Interference, -- intentional interference with contractual relations, as when a person intentionally damages the plaintiff's contractual or other business relationships.
I’d think that getting government out of private business would be a good thing, over the long-term. You cannot influence companies that you don’t own a part of.
The mayors are wrong on principle - the “investments” concerned are the investments made on behalf of government employees into their pension plans, to which the government has a fifuciary responsibility as a moral responsility to keep their own politics out the investment decisions of what is really their employees funds in the form of deferred compensation.
Really, does it matter if liberal cities refuse to invest in gun companies? Gun makers are profitable and they will remain a good investment for other people and organizations.
Just great. So Detroit and Cleveland can go broke EVEN FASTER once they have to pay a multi-million dollar judgment to a gun manufacturer.
They see their only fiduciary responsibility and moral responsility as growing government and getting re-elected.
El correcto! The gun manufacturers will not be harmed by this action in the least, but the hapless public employees will possibly see diminished returns. It’ll be pretty hard to prove in court, though I am sure someone will be able to do so.
If the investment managers comply, they will be violating theri fiduciary responsibilities, and should be sued by taxpayers and municipal employees and retirees.
goobermint has grown so big it can hold companies hostage
and place taxpayer bets on ‘green’ boondoggles guaranteed to lose money.
then come back to taxpayers for more money when the pensioner’s unions cry that they don’t have the money.