The State of Connecticut sued Cendant Corp. in federal district court in New Jersey, alleging the company violated federal law and SEC regulations after overstating its earnings by as much as $115 million. The state, through its $18 billion pension fund, owns about $4 million in Cendant stock.
CalPERS, the New York City pension funds and New York State Common Retirement Fund sued Cendant last week, asking to be lead co-plaintiffs in a series of shareholder lawsuits against Cendant.
