The massive New York state public pension fund has filed a suit against a high-tech firm, hoping to reveal information on the company's political expenditures.
According to Reuters, the $150-billion fund filed a shareholder suit against Qualcomm Inc., a silicon chip maker, in an effort to unveil the company's political records.
The suit was filed in Delaware Court of Chancery, after Qualcomm refused the New York State Common Retirement Fund's request to inspect records detailing the use of corporate resources for political activities, according to New York State Comptroller Thomas DiNapoli, who oversees the fund. The fund, the third-biggest public pension plan in the United States, owns Qualcomm shares valued at more than $378 million as of December 31.
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