Securities Litigation Counsel

The Arizona State Retirement System (ASRS) has established Master Agreement CTR067442 with Kessler Topaz Meltzer & Check LLP to provide specialized Securities Litigation Counsel services. This master agreement enables the ASRS to obtain comprehensive legal support for monitoring domestic and international class action cases, evaluating potential legal actions, and receiving strategic recommendations from the law firm. The services are designed to represent the ASRS in securities litigation matters, with a focus on protecting the retirement system's financial interests through strategic legal interventions.

The master agreement is a no-cost contract effective from August 29, 2023, with an initial term of twelve months and potential extensions up to five years. Kessler Topaz Meltzer & Check LLP will be compensated through contingent legal fees from successful settlement outcomes, not to exceed 25% of the settlement amount. The contract covers the state of Arizona and is governed by Arizona state laws and procurement regulations. Recent amendments (Amendment No. 1 and No. 2) have extended the contract through August 28, 2026, with additional provisions addressing compliance requirements, including restrictions on artificial intelligence usage and prohibitions on using state materials in generative AI queries without explicit written approval.