In a statement, the Board points out Ferguson made false statements about the pension trustees at a meeting of Common Council on July 17th of 2006 but, as a Council member at the time, was entitled to do so because he had qualified privilege.
It will be up to Mr. Justice William Grant to assess costs arising the lawsuit which began in 2007.
Ferguson's lawyer Rod Gillis estimates the legal costs for each side are pushing two and a half million dollars each.
Despite that, the Pension Board maintains the trustees look forward to the resolution of this matter over the next few weeks.
