Newsmakers
Milliman Faces ERISA Lawsuit Over Alleged Breach of Fiduciary Duty
The plaintiffs claim the firm’s 401(k) lost as much as $85 million due to imprudent investment decisions.
Tag: Lawsuit
Newsmakers
Detroit Pension No Longer Suing Dan Gilbert
The fund had accused the businessman of insider trading.
Risk
Pension Fund Sues Peloton Over Alleged False Statements
The lawsuit claims the fitness company and its executives lied about the prospects of post-COVID growth.
Newsmakers
Ohio Pension Sues Facebook Over Whistleblower Scandal
The lawsuit alleges misleading statements ‘erased more than $100 billion in shareholder value.'
Asset Allocation
New York State Common Retirement Still Holds Boeing Stock, Despite Lawsuit
The fund, which just received a settlement as a result of the litigation, currently has $216 million invested in the aerospace company.
Corporate Moves
The Curious Case Against Hedge Funds in Kentucky
Missouri’s new CIO is still fighting a nearly four-year-old lawsuit in Kentucky over investments that appear to have performed as intended.
Asset Management Culture
Ken Griffin Takes Fire Again Over Robinhood–GameStop Imbroglio
Social media explodes as a lawsuit charges he colluded with the brokerage to thwart meme investors.
Asset Allocation
Twitter to Pay $809.5 Million to Settle Securities Fraud Lawsuit
The social media company was accused of concealing from investors its stagnant user growth and declining user engagement.
Pensions
No Plan Safe From ERISA Lawsuits, Chamber of Commerce Warns
The lobbying group also says a surge in litigation could have ‘significant negative consequences for plan participants.’
Regulation
SEC Charges Could Open Pearson to Securities Lawsuits
With the cease-and-desist order, attorneys might take aim at the publisher over alleged misleading statements.
Coronavirus - COVID-19
Teamsters’ Pension Lawsuit Could Thwart Vaccine Mandates
The union says its pension fund’s mandatory vaccine policy violates collective bargaining agreements.
Regulation
Supreme Court to Hear ERISA Excessive Fee Case
The lawsuit seeks to define what ‘care, skill, prudence, and diligence’ really mean for fiduciaries.
Asset Allocation
Transamerica Settles 401(k) Lawsuit for $5.4 Million
The complaint alleged the insurance giant saddled its plan portfolio with proprietary duds.
Regulation
DOJ Lawsuit Could Hurt Aon-Willis Towers Watson’s Chances in Europe
Legal action could influence whether the European Commission approves the $30 billion acquisition.
Risk
State Street Accused of Self-Dealing With 401(k) Plan
Lawsuit alleges firm breached its fiduciary duties by providing underperforming proprietary funds.