Risk
Northern Trust Sued for Allegedly Loading 401(K) with Proprietary Duds
Lawsuit claims default retirement plan investments have underperformed up to 90% of peers for nearly a decade.
Tag: Class Action
Regulation
UK Pension Cleared to Sue Apple over Alleged Misleading China Comments
Judge says it ‘strains credulity’ that CEO Tim Cook was unaware of potential impact of trade tensions on iPhone sales in China.
Regulation
Rhode Island Pension Sues Restaurant Brands over Offerings
Lawsuit alleges the fast-food company misled investors about the underperformance of its Tim Hortons chain.
Risk
Oklahoma Firefighters Pension Sues Peabody Energy over Mine Fire
The lawsuit alleges the coal mining company, its CEO and its CFO failed to disclose safety issues.
Princeton Settles Lawsuit over ‘Excessive’ Retirement Plan Fees
University agrees to pay $5.8 million and not raise plan fees for three years.
Pensions
Pittsburgh Pension Settles Lawsuit with Molina Healthcare
Steamfitters Local 449 Pension Plan agreed to drop the case for $7.5 million.
Regulation
Mississippi Pension Sues Mylan over Alleged Scheme to Deceive FDA
President Rajiv Malik is accused of ordering workers to manipulate quality control data.
Risk
Florida Pension Sues Grand Canyon Education
Class action lawsuit alleges company artificially inflated stock price.
Risk
Georgetown University Student Demands Tuition Refund for COVID Losses
The school has reaped ‘millions of dollars’ in tuition fees after switching to online classes, despite boasting a $1.8 billion endowment, suit says.
Manager Selection
Florida Pension Fund Sues Ryder System for Securities Fraud
Lawsuit alleges the transport company’s executives overstated the residual value of its fleet.
Regulation
Boston Pension Fund Files Class Action Lawsuits Against Six Flags, HP
Electrical Workers Pension Fund claims investments in Six Flags and HP tumbled 44% and 30%, respectively.
Regulation
Norwegian Internet Company Opera Sued over ‘Misleading’ IPO Documents
Class action lawsuit accuses software firm of predatory lending practices.
Asset Allocation
National Australia Bank Trustees Sued for Mismanaging Pension Assets
Class action suit on behalf of 330,000 members alleges breach of duties.
Regulation
Michigan Police Pension Files Securities Lawsuit Against Prudential
Fund alleges insurance giant provided false information that artificially inflated its stock.
News
Goldman Sachs Sued Over 401(k) Plan
Lawsuit alleges firm used underperforming proprietary mutual funds in plan.