Attorney General Suffers Setback in Placement Agent Suit

Yesterday, Bankruptcy Court Judge John Peterson issued his written decision regarding whether the State of California should be granted relief from the bankruptcy automatic stay in order to pursue a civil enforcement action against Alfred R. Villalobos and his affiliated companies. Mr. Villalobos is a former member of the Board of Administration of the California Public Employees Retirement System (CalPERS). This spring, California Attorney General Jerry Brown filed a civil action alleging violations of California Corporations Code §§ 25216 and 25210 and Business & Professions Code Section § 17200.

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