Ex-Manager of German Dentists Fund Loses Dismissal Suit

A former top manager of a German pension fund that’s facing a loss of half its assets lost a court bid to overturn his dismissal.

The fund, known by its German acronym VZB, fired its former managing director Ralf Wohltmann last year after more and more losses came to light. The fund claims Wohltmann violated his contract because he was invested in a company that in turn did business with VZB.