CHICAGO — Lawyers for five Wisconsin school districts trying to recoup their ill-fated $200 million investment in collateralized debt obligations to fund their non-pension retiree health liabilities are engaged in formal mediation talks with the financial firms they blame for their losses.

The talks, led by a professional mediator, began in mid-July and will conclude on Monday, according to a lawyer for the school districts who said it remains unclear whether the parties can resolve the issue and put an end to ongoing litigation.

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