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Herman Cain's spot on the board of directors at Aquila, a high-flying energy company that crashed to earth, may be a blotch on his record.
The Kansas City-based company and Cain faced allegations that employee retirement funds were heavily invested in company stock when the company was changing to investments to "high risk enterprises." The complaint states, "...the risk profile of the Aquila Fund drastically transformed from a conservative utility investment to a high risk growth stock."
The company settled the suit for $10.5 million.
http://abcnews.go.com/Business/herman-cain-boss/story?id=14722908
The Kansas City-based company and Cain faced allegations that employee retirement funds were heavily invested in company stock when the company was changing to investments to "high risk enterprises." The complaint states, "...the risk profile of the Aquila Fund drastically transformed from a conservative utility investment to a high risk growth stock."
The company settled the suit for $10.5 million.
http://abcnews.go.com/Business/herman-cain-boss/story?id=14722908