Government Pension Agency Sues Bankrupt RG Steel Parent Renco Group, Alleges Fraud

Government Pension Agency Sues Bankrupt RG Steel Parent Renco Group, Alleges Fraud

NEW YORK - The Pension Benefit Guaranty Corp. (PBGC) sued The Renco Group Inc. in the U.S. District Court for the Southern District of New York on Jan. 28, alleging fraud and negligent misrepresentation regarding a deal it consummated just before the Chapter 11 bankruptcy filing of its subsidiary RG Steel LLC (Pension Benefit Guaranty Corporation v. The Renco Group Inc., No. 13-621, Chapter 11, S.D. N.Y.).

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