Read the full text of the complaint for our lawsuit against the SBI here

The Minnesota Break the Bonds Campaign (MN BBC), along with the individuals and organizations listed below, is serving a lawsuit on the Minnesota State Board of Investment (SBI) with a […]

The Minnesota Break the Bonds Campaign (MN BBC), along with the individuals and organizations listed below, is serving a lawsuit on the Minnesota State Board of Investment (SBI) with a demand that it divest from sovereign Israel Bonds.

The full text of the Complaint for Declaratory Judgment and Affirmative Relief which will be served on the SBI on November 29, 2011 can be downloaded as a PDF here: MNBBCvSBI.

Plaintiffs:

Minnesota Break the Bonds Campaign, Bil‟in Popular Committee Against the Wall and Settlements, Women Against Military Madness-Middle East Committee, LuciaWilkes Smith, Margaret Sarfehjooy, Catharine Abbott, Barbara Hill, Polly Mann, Leona Ross,Sylvia Schwarz, Nadim Shamat, Sarah Martin, Robert Kosuth, Mary Eoloff, Nick Eoloff, Vern Simula, Cynthia Arnold, Newland F. Smith, III, Ronnie Barkan, Ofer Neiman, David Nir, Leehee Rothschild, Renen Raz, Dorothy Naor, Gal Lugassi, Boycott From Within, David Boehnke

Defendant:

Minnesota State Board of Investment

Summary of Complaint taken from pages 31-32

Plaintiffs demand that the SBI divest from Israel Bonds on the basis that monies invested in Israel Bonds are pooled in Israel’s general treasury without restriction on use and that the SBI knows that these pooled funds augment funds that are then used and have been used by Israel to fund activities that violate customary international law. The SBI has refused to divest, in violation of its statutory obligation to act prudently. An actual controversy and dispute of a justiciable nature has therefore arisen between the plaintiffs and defendant.

PRAYER
WHEREFORE, plaintiffs pray for the following declaratory relief:
1. That this Court determine and declare that by investing in Israel Bonds,
a) the SBI has exceeded its investment authority;
b) the SBI has violated its statutory duty to invest plan assets lawfully; and
c) the SBI has violated the prudent person standard.
2. That this Court grant plaintiffs a temporary injunction prohibiting the SBI from further investing in Israel Bonds pending the outcome of this case and enter a final judgment directing the SBI to divest from all Israel Bonds.
3. That this Court grant to plaintiffs such other and further relief as the court may
deem just and equitable.

Note: Attorneys for the plaintiffs are listed on page 33 of the Complaint

Photo: employmentspot.com

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