The Texas State Employee Retirement System is suing Putnam Investments, its former mutual fund adviser, for fraud, demanding the recovery of million of dollars in fees, the Austin American Statesman reports.

The Texas pension fund fired Putnam in November 2003, after it first came to light that Putnam was under investigation for market timing.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.