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Secretary of State

SOS > Media Center >  Press Releases > New webpage provides public, teachers and schools with online access to public information regarding Indiana State Teachers Association securities fraud lawsuit New webpage provides public, teachers and schools with online access to public information regarding Indiana State Teachers Association securities fraud lawsuit

FOR IMMEDIATE RELEASE
October 5, 2010

INDIANAPOLIS – The Indiana Securities Division, a part of Indiana Secretary of State Todd Rokita’s office, is providing online access to public documents associated with the ongoing case, which is moving forward in the United States District Court for the Southern District of Indiana, in a section of its webpage.

The website can be found within the Indiana Securities Division’s website by clicking here or at this URL: http://www.in.gov/sos/securities/3738.htm

The page includes documents filed with and issued by the Federal Court where the case is being heard. 

The suit was filed in December of 2009 in order to recover approximately $23 million related to an ISTA-offered health insurance program for teachers and school employees. The suit alleges ISTA and its affiliated entities sold unregistered securities associated with a health insurance program, made untrue statements and failed to disclose information about the financial soundness of the program. The alleged scheme involved investing unspent school district claims dollars and the expectation of a profit.

Media contact: Jim Gavin, jgavin@sos.IN.gov, 317-233-8655

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