Risk
Florida Pension Sues Fidelity National Over Worldpay Deal
The fintech firm is accused of failing to disclose material information that led to a $17.6 billon write-down.
Tag: Lawsuit
Risk
Pension Funds Sue Silicon Valley Bank’s Officers, Auditor KPMG Following Failure
Complaint alleges the company's executives and its auditor ‘understated and concealed’ the risks posed by rising interest rates.
Regulation
Australian Regulator Accuses Mercer Super of Greenwashing
The nation’s Securities and Investments Commission is suing the pension fund for allegedly misleading members about sustainability.
Newsmakers
Court Refuses to Dismiss Central States Pension Lawsuit
District of Northern Illinois judge finds employer liable for withdrawing from pension obligations during collective bargaining agreement transition.
Newsmakers
Sequoia Capital, Thoma Bravo, Paradigm Sued for Touting FTX
Investment firms allegedly made ‘deceptive and misleading statements’ to promote the failed crypto exchange.
Newsmakers
Swedish Pension Fund AP7 Sues Microsoft, Activision Over Takeover Deal
Lawsuit alleges shareholders were hurt because $68.7 billion acquisition process was “done incorrectly.”
Newsmakers
PSERS Exploring Legal Action Stemming from Reporting Error
The 2020 fund reporting error’s revision triggered the state’s shared-risk provision, which required school districts, as plan providers, and plan participants to pay more into the system.
Risk
Florida Pension Funds Sue Barclays Over $17.6 Billion Debt Over-Issuance
The Miami pensions call the bank’s failure to prevent massive error ‘deliberately reckless.’
Newsmakers
Janus Henderson Sued for Allegedly Favoring Its Own Funds in 401(k) Plan
Class action lawsuit claims firm loaded its retirement plan with high-fee, underperforming proprietary funds.
Newsmakers
Philadelphia Union Pension Sues Amazon for Allegedly Lying About COVID Expansion
Lawsuit claims retail giant’s infrastructure investment was a ‘massive, self-imposed, undue drain’ on its finances.
Regulation
New York AG Sues Albany Diocese Over Pension ‘Mismanagement’
Lawsuit seeks to restore lost benefits for more than 1,100 former St. Clare’s Hospital workers.
Regulation
Court Rejects Legal Challenge to Illinois Pension Consolidation
Judge rules that voting for pension board members is not considered a 'benefit' under the state’s constitution.
Newsmakers
New York Common Calls on Tesla to Disclose Spending on Discrimination Complaints
The pension made the move after a racial discrimination lawsuit led to a $130 million verdict in punitive damages.
Newsmakers
Teamsters Pension Applies for Bailout After $58 Million Legal Appeal Dismissed
A circuit court has denied the New York multiemployer pension’s attempt to recover withdrawal liabilities from the bankrupt firm’s new owner.
Newsmakers
UK’s Biggest Pension Fund Facing Lawsuit, Potential Strikes Over Benefit Cuts
The plan is increasing contributions while cutting benefits despite significant investment returns last year.