By Rebecca Moore, includes “… The Herald-Leader reports that the plaintiffs allege that, starting in 2011, the investment firms sold KRS hedge fund investments that were 'extremely high-risk, secretive, opaque, high-fee and illiquid vehicles.' The hedge funds produced 'excessive fees … poor returns and ultimately losses.' … 'Trustees, with the knowing assistance of all the other defendants, chose to cover up the true extent of the KRS financial/actuarial shortfalls and take longshot imprudent risks with KRS funds to try to catch up for the funds’ prior losses and deceptions,' the suit alleges …”