San Diego city attorney Mike Aguirre says he will present the city council with a multi-million dollar settlement he’s reached with a company that investigated the city for financial wrongdoing. KPBS reporter Alison St John has more.
Aguirre says he’s reached a settlement of more than $4.3 million in a malpractice suit against Vinson and Elkins.
V and E was hired by the city in 2004 to both investigate its disclosure practices and defend the city before the SEC.
This is the fourth suit the city attorney has settled in connection with pension-related attorneys, and Aguirre says the money more than covers the cost of his efforts to roll-back benefits.
Aguirre : The amount of money that we’ve recovered in our pension litigation far exceeds -- by many times -- the amount that we’ve actually spent on our pension litigation, and we have a case now pending before the appellate court that goes after about $900 million of the actual pension debt that we want to have removed from our taxpayers.
Aguirre has come under fire for wasting time and money on trying to roll-back vested benefits. However he says he plans to add another suit -- this one against attorneys for Kroll, the company that charged the city $20 million for its investigation.
Alison St John KPBS News.