American Century Wins 401(k) Class Action Lawsuit
Judge rules that offering employees only proprietary funds does not violate ERISA.
Tag: Litigation
Newsmakers
Dallas Pension Fund Sues Actuary for Malpractice
Police and firefighter pension alleges advisor failed to warn of deferred retirement risks.
TPR Suspends Pension Trustee over Fraud Investigation
Optimum Retirement Benefits Plan's Gordon Craig is being investigated by organized crime unit.
Ohio CEO Convicted of 401(k) Fraud
Attevo Inc.’s Charles Snyder allegedly used funds to support ‘lavish lifestyle.’
Opinion: How not to Get Sued for your DC Plan
Arun Muralidhar shares his thoughts on how corporate pension CIOs can dodge litigation.
Responsibly Handling a DOL Investigation – A Primer for CIOs
During an investigation, DOL typically focuses on a core set of issues.
Regulation
Chattanooga’s Fire and Police Pension Fund Sues Wells Fargo
Tennessee fund accuses trustee of committing ‘systemic nondisclosures.’
Newsmakers
University of Louisville Sues Former President over Endowment Losses
James Ramsey, four others are accused of enriching themselves while depleting the endowment.
Regulation
San Diego County Sues Pension for Not Cutting Benefits
Retirement association says enacting lower tier of benefits would be illegal.
Court Rules Pension Plan Change Did Not Violate Law
Ruling: Northern Trust’s change in payout formula not an illegal reduction in accrued benefits.
Regulation
Court Orders Inquiry into Sears Canada Dividend Payment
A litigation investigator has been appointed to review C$3 billion in shareholder payouts.
Pension Fund Sues Ocwen over Alleged Breached ERISA Duty
Lawsuit claims firm hurt pension’s investments by pushing homeowners into foreclosure.
Newsmakers
Colorado Pension Sues Nine Banks over Lending Rates
Pension alleges the banks rigged their lending rates to boost profits.
FCA Accuses Four Asset Managers of Breaking Law
Statement of objections initiates regulator’s first enforcement case.
Newsmakers
Florida’s State Pension Votes to Sue Valeant over Losses
State board of administration alleges it lost $62 million due to fraud.