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Teachers show the path forward after Sandy Hook

December 18, 2012

Upon the firm insistence of California teachers, the Cerberus investment group is divesting itself from the gun maker that makes the Sandy Hook murder weapon:

U.S. private equity firm Cerberus Capital Management is selling its investment in gunmaker Freedom Group, which makes a type of rifle used in a U.S. school massacre last week, following pressure from a major investor.

The California State Teachers’ Retirement System (CalSTRS) said on Monday it was reviewing its investment with Cerberus in the wake of Friday’s shooting in Newtown, Connecticut which claimed 27 lives, including 20 school children.

CalSTRS, the second largest pension fund in the United States, had invested $751.4 million with Cerberus by the end of March 2012, according to its website.

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