Oy vey, can you believe this? The Ontario Teachers’ Pension Plan (OTPP) is in hot water for investing a cool $95 million in that FTX fiasco. 🤦♂️ I mean, what were they thinking? It’s like they took a look at that whole mess and said, “Yeah, that’s where we want our members’ hard-earned money to go!”
According to the lawsuit, the OTPP board of trustees apparently dropped the ball on their fiduciary duties. 🤷♂️ You know, the whole “due diligence” thing. Guess they were too busy counting their money to actually, you know, look into the company they were investing in. 💰
And let’s not forget the cherry on top – the FTX collapse. 💥 Turns out, they had some, shall we say, “issues” with their governance and cybersecurity. 🤖 Who could have seen that coming, right? 🙄
Now, the OTPP is trying to play it cool, saying the lawsuit is “baseless.” 🙄 But come on, we all know they’re sweating bullets over this one. 😅 I mean, $95 million down the drain? That’s gotta hurt, even for a pension fund that big.
Anyway, I can’t wait to see how this all plays out in court. 🍿 Maybe they’ll even call in Larry David as an expert witness. 🤔 Now, that would be a sight to see! 😂
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2025-01-22 10:31