Pensions
Weyerhaeuser, State Street Sued in PRT Lawsuit
Timberland company sued by former employees, represented by Schlichter Bogard LLP, over a pension risk transfer it conducted with Athene in 2019.
Tag: Litigation
Pensions
2nd Suit Filed Against AT&T’s 2023 PRT Deal
Selection of insurer Athene is again the focus in litigation over the telecom company's $8.05 billion pension risk transfer.
Pensions
AT&T Sued Over 2023 Pension Annuitization With Athene
Beneficiaries' suit claims telecom company 'turned its back on its retired workers' in risk transfer deal.
Pensions
Pennsylvania PSERS Drops Aon as Consultant
Aon admitted fault for the 2020 mistakes that led to the resignations of pension fund leaders, and the fund has moved on to a new consultant, Verus Investments.
Asset Allocation
Navigating ESG in an Evolving Regulatory Environment
Speakers at CIO's Navigating ESG Livestream discussed what investors should expect from company reporting on ESG-related issues.
Risk
Michigan Pension Loses Lawsuit Against Unilever Over Ben & Jerry’s Israel Boycott
A federal judge dismissed a case that alleged Unilever misled investors by concealing a board resolution.
Risk
Australia Agrees to Disclose Sovereign Bonds’ Climate Risks
Investors can comment on the settlement until the court approval hearing, scheduled for October 11.
Pensions
Pennsylvania PSERS Sues Aon Over Accounting Error
The pension fund accuses Aon of breach of contract, breach of fiduciary duty and negligence.
Newsmakers
Ryanair Settles Lawsuit With Alabama Pension Fund
The airline agreed to pay $5 million to the Birmingham fire and police pension fund but denied any wrongdoing.
Newsmakers
25 States and 3 Fossil Fuel Industry Actors Sue to Block DOL Rule Permitting ESG Investing
The lawsuit seeks an injunction against the rule, set to take effect Monday, which would allow ESG considerations in retirement plan investment decisions.
Newsmakers
Former Kentucky Pension CIO Charges He Was Fired for Uncovering Fraud
Steven Herbert says his employment was terminated after he discovered that a property company, allegedly, stole money from a retirement system unit.
Manager Selection
Summary Judgement Favors Goldman Sachs in ERISA Lawsuit
A federal judge rules that Goldman Sachs did not violate ERISA by offering proprietary mutual funds as options for its retirement plans.
Regulation
Multiple Employer Pension Plans May Need to Brace Themselves for Lawsuits
Consulting firm October Three says lawyers will likely set their sights on MEPs.
Regulation
Wells Fargo Ex-CEO Stumpf Pays $2.5 Million to Settle SEC Charges He Misled Investors
Former Community Bank head Carrie Tolstedt has also been charged by the regulator.
Regulation
Rhode Island Pension Alleges Zuckerberg Overpaid 2019 Settlement to Avoid Personal Consequences
State Treasury says Facebook overpaid Cambridge Analytica settlement by $2 billion to win extra concessions from the feds.