20 Apr 2012

CNMI retirement fund files lawsuit over defective software

3:00 pm on 20 April 2012

The Northern Marianas Retirement Fund has filed a lawsuit against a company for its alleged defective software that has already cost the fund just over 400,000 US dollars.

The Fund has sued Gary Sword of American Samoa, and his company Express Electronics, and 10 unnamed co-defendants for breach of contract, and unjust enrichment.

The Fund, through assistant attorney general Christopher Timmons, asked the Superior Court to hold all defendants liable for damages and court costs.

According to the complaint the company failed to deliver on a contract to create a customised pension administration system for the Fund and made no effort to address the defects.

In January, two fund members sued Mr Sword and his company over the same alleged non-functioning software pension.