Asset Allocation
Lawsuit Accuses Caesars, Russell Investment of Gambling with 401(k) Plan
The plaintiffs claim switching from State Street has cost participants $100 million in losses.
Tag: Lawsuit
Pensions
Ohio Retired Teachers Association Sues Ohio STRS for Transparency
The group says the $80 billion pension fund refuses to turn over public documents it needs to conduct an audit.
Pensions
Sterling Bancorp to Pay $12.5 Million to Settle Securities Lawsuit
An Oklahoma pension fund alleged the bank violated federal laws related to residential lending practices.
Risk
Michigan Pension Fund Sues Credit Suisse Over Risk Exposure
The Swiss bank is accused of misleading investors after it lost billions when Greensill and Archegos collapsed.
Risk
Lawsuit: DC Plans More Vulnerable to ERISA Litigation Than DB Plans
Lawyers taking aim at a company’s retirement savings plan say firms with 401(k)s should expect to be sued more than those with traditional pensions.
Risk
BlackRock Agrees to Settle ERISA Lawsuit
Asset management giant ends class action litigation by paying plan participants $9.65 million.
Asset Management Culture
Controversy Still Follows CalPERS’ CIO Resignation
More than a half-year after Ben Meng resigned, a lawsuit and pending pension system policy decisions are bringing his departure back into the limelight.
Risk
Coca-Cola Bottlers Association Faces ERISA Lawsuit
Plaintiffs allege missteps by 401(k) plan fiduciaries cost participants millions of dollars in retirement savings.
Regulation
Court Rules Pensions Can’t Exist in a State of Limbo
In ‘most unusual case,’ judges back PBGC and find that someone must be held responsible for a pension even if the sponsor is long gone.
Risk
Pension Fund Sues Cigna over Failed Anthem Merger
Lawsuit alleges Cigna’s CEO tried to sabotage the $54 billion merger when he found out he wouldn’t lead the new company.
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.
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.
Risk
Mississippi Pension Sues Portland General Electric over Energy Trading Losses
Lawsuit alleges ‘false and misleading’ statements by the company, its CEO, and its CFO ‘wiped out’ over $300 million in market value.
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.
Will Businesses Be Engulfed by Lawsuits Blaming Them for Virus Infections?
A GOP Senate bid to shield companies has helped hold up the next federal stimulus round.