Quadrangle Disavows Rattner

For years, New York Attorney General Andrew Cuomo has been investigating whether state-retirement officials and their buddies illegally profited after steering billions of investment funds to certain firms. One of the accused firms, The Quadrangle Group, settled two suits Thursday when it agreed to pay $12 million and publicly denounce founder Steven Rattner. Quadrangle said that it disavowed Rattner's conduct in gaining a pension deal worth $150 million, stating that his actions were "inappropriate, wrong and unethical," the New York Post reports. Rattner is reportedly still under investigation as part of a probe into the dealings of former political lobbyist Hank Morris, who allegedly helped him secure the multimillion dollar investment.