Waukesha
School District joins
$200 million lawsuit over investments Complaint:
Waukesha was told ‘15 Enrons’ needed
before they’d be affected
By JOE PETRIE - GM Today Staff
October 1, 2008
WAUKESHA - The Waukesha School District, along with four other state
districts, has filed a $200 million lawsuit against two firms
responsible for handling investments that lost millions of dollars
during the past two years.
advertisement
The districts filed the lawsuit Monday in Milwaukee County
Circuit Court against investment brokerage firms Stifel Nicolaus
& Company Inc., and the Royal Bank of Canada, saying in a joint
statement from the law firm representing the districts the firms
allegedly misled the districts in an investment scheme to fund
post-employment benefit packages. James Zemlyak of Elm Grove, who is
the former chief financial officer and co-chief of Stifel, is also
named in the suit.
