RSA CEO Updates Comments On SEC Investigation

WSFA 12 News has an update on a story we reported earlier this week.

You may remember, the Retirement Systems of Alabama announced it had repaid 750-thousand dollars after an investigation by the Securities and Exchange Commission. The investigation involved R.S.A. purchasing stock in the Liberty Corporation at the same time R.S.A. was planning to help Raycom finance the purchase of Liberty's t-v- stations. In our story, R.S.A. CEO Dr. David Bronner made statements concerning the R.S.A.'s ability to buy 5 percent of Liberty's stock.

Dr. Bronner got that information from an attorney, but that person was not acting in a legal capacity. On Friday, Dr. Bronner issued a retraction concerning those statements. He said quote, "I made comments which were inaccurate and inconsistent with the federal securities laws and the SEC's report. I retract those statements and regret having made them."