Los Angeles Pulls $500 Million From Fisher as Exodus Mounts
- Pension board makes decision after contentious meeting
- Fisher CEO attends meeting and apologizes for his boss
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The Los Angeles fire and police pension decided to pull about $500 million from Ken Fisher after a contentious board meeting with representatives from the firm.
The pension on Thursday joined New Hampshire, Iowa, Michigan, Philadelphia and Boston in withdrawing funds from Fisher Investments following lewd comments made by its founder. The total amount divested comes to more than $2.5 billion.