'Tremendous loss to America': South Carolina is dumping $105M worth of Disney investment, blaming 'structural rot' in the company — Treasurer warns

submitted by SoCo from msn.com

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[–]binaryblob 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (2 children)

Curtis Loftis is a dude. I'd argue that he is not upholding his fiduciary responsibility if he did this and the people paying for the pension should sue. In fact, if the fund doesn't sell their entire position, every other shareholder could sue, because of price manipulation.

[–]jet199 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

I guess it's also a way of assuring the markets that they aren't selling stock because they are going bust themselves.

[–]binaryblob 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

They can't go bust on a single ticker.