In 2011, the health system’s board of directors approved a settlement to end a 2008 lawsuit filed against Wachovia Bank, in which the system attributed investment losses to an alleged broken promise from the bank to put the funds in low-risk investments, according to the report.
Because the settlement was never made public, the public health system is facing allegations from a Charlotte lawyer that the system violated the state’s public record laws, according to the report.
The health system has filed a motion to dismiss the suit, according to the report.
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