New Jersey goes to court over stock losses.

• Position: News Briefs

New Jersey is suing four companies whose alleged misdeeds and mismanagement resulted in more than $150 million in stock market losses for the state's pension funds. The pension funds invest on behalf of 600,000 teachers and public employees. The lawsuits will target Electronic Data Systems, Tyco International, Qwest Communications, and Sears Roebuck. New Jersey contends that the stock losses were the result of corporate greed, not the economic downturn. The state plans to accuse the companies of insider trading, improper accounting, misleading financial disclosure, and widespread fraud. Since August, New Jersey's investment...