'Father' of California Stem Cell Agency Tussles with Giant Pension Fund over Millions in Real Estate Deal
A real estate state developer often referred to as the father of the California stem cell agency is challenging the state’s $463 billion government employee pension fund in legal actions involving real estate investments in the Los Angeles area.
Robert Klein, who sponsored the ballot initiatives that created and provided $8.5 billion for the California Institute for Regenerative Medicine (CIRM), has filed a cross-complaint against the pension fund, CalPERS, asking for more than $28 million from the mammoth organization, according to an article in the Sacramento Business Journal.
Klein, whose Palo Alto offices also house his patient advocacy group, Americans for Cures, filed the action in connection with a CalPERS lawsuit seeking $38 million from Klein that it said was owed.
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