Federal regulators are accusing brokerage firm Stifel Nicolaus & Co. of civil fraud in its sales of risky complex investments to five Wisconsin school districts, which lost all of the $200 million they invested.
Connecticut's second-highest court ruled 3-0 that the town of Fairfiled was indirectly affected by actions of two partners in an investment firm accused of conspiring with the disgraced Bernie Madoff.
US Representative Spencer Bachus has said he is planning legislation to restructure the U.S. Securities and Exchange Commission in order to implement changes recommended by the agency’s inspector general, the Government Accountability Office and a consultant’s report mandated by the Dodd-Frank Act.
As China's debt booms while the country aims to contain default risk, Chinese firms must now obtain approval from bond investors before they restructure their assets.
The three Louisiana pension funds that expressed concern over Fletcher Asset Management’s liquidity and financial reporting practices have sent a team to the hedge fund to investigate the matter; their findings suggest that the initial concerns may have been unsubstantiated.
In another legal blow to Bank of America, a group of 15 institutional investors has sued the bank for allegedly misleading investors about the integrity of its subsidiary Countrywide Financial’s financial condition and lending practices.
While Mexico's Afore retirement funds are still slanted toward fixed-income and government bonds, new rule changes could release $6 billion into equities.
A judge in Manhattan District Court has rejected a bid by former Lehman Brothers executives and affiliates to dismiss a case alleging misleading practices, as the lawsuits that investors have filed against financial institutions continue to creep forward.
An investment analyst has sued the $5.5 billion Alameda County Employees’ Retirement Association for allegedly threatening to fire him after he accused the fund’s CIO of falsifying time slips.
As banks around the country have faced lawsuits by pension funds, regulators, and other agencies over their mortgage-lending practices during the housing market collapse, Wells Fargo now battles allegations of discriminatory lending.
The Massachusetts Laborers’ Pension and Annuity Funds has sued Rupert Murdoch and other News Corp directors over lack of oversight and a breach of fiduciary trust, adding to a growing list of investor lawsuits hitting News Corp in the midst of the phone hacking scandal.
The Court of Appeals of Maryland has ruled that Milliman, Maryland State Retirement and Pension System’s actuary from 1982 to 2006, is liable for damages of approximately $73 million for faulty actuarial valuations that left the state’s plans underfunded.
The chairman of Dutch pension fund manager Algemene Pensioen Group wants to lessen regulations that have prevented the firm from reclaiming Dutch pension assets whose management has fallen into foreign hands, the Financial Times has reported.
