Oregon Treasurer Ted Wheeler and Attorney General John Kroger have pursued legal action against Countrywide Financial in order to recoup nearly $29 million in losses that they say the state’s public retirement fund suffered during the mortgage crisis of year’s past.

According to yesterday’s announcement, state officials explained that the suit was filed on behalf of the Oregon Public Employee Retirement Fund (PERF). The litigation contends that the fund was “induced to invest $200 million into home loans originated by Countrywide” and lost monies “as a result of misrepresentations by Countrywide and its financial underwriters.”

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