The Ohio state insurance fund for injured workers is expected to make a decision soon regarding the release of a report on the value of its private fund investments that investors have argued should be kept private.
Some of the firms managing those investments have contacted the Ohio Bureau of Workers’ Compensation to oppose the release of the report, complaining that it would expose confidential financial information.
The possibility of legal action to stop the agency from releasing the report has been mentioned. The report is due out Friday, according to Chicago-based consultant Ennis Knupp.
The firms contend that the report will reveal proprietary information about their finances as well as those of the privately held companies they invest in.
While the agency has not made a decision yet, an attorney representing many of the private funds said yesterday that he believes the workers’ comp bureau is leaning toward not releasing the information.
“That’s the information that perhaps is the most sensitive and confidential of everything contained in the Ennis Knupp report,” said Carl Metzger, a Boston lawyer representing private equity firms fighting the report’s release, according to an Associated Press account.
The funds say the document could give competitors of private workers’ compensation companies sensitive information about firms’ value and financial state that wouldn’t otherwise be public. Private equity funds involve investments in companies not listed on a public stock exchange.
Topics Workers' Compensation Ohio
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