NYC’s retirement system has joined a lawsuit against American Realty Capital Partners, claiming it “artificially inflated prices” of its securities.
The rating agency also faces a one-year ban from rating certain commercial mortgage-backed securities.
Due to stand trial next month on federal corruption and bribery charges, former placement agent Alfred Villalobos died on Tuesday.
A group of investors claims the bank misrepresented the quality of $18 billion of mortgage-backed securities.
Two investors are suing the bankrupt city in order to reclaim debts alongside payments to CalPERS.
Suing over losses, a church foundation is still pursuing its former OCIO for alleged fraud, breach of trust, and securities law violations.
The UK’s Coal Pension fund is taking legal action to recover millions it claims to have lost through a currency hedge.
The vetoed bill would allow NYC pension
to up allocations to alternatives and international bonds to 30%.
A bill to be scrutinised by the Californian senate in January could lead to forced divestments for the state’s biggest investors.
Arrangements with San Bernardino, Stockton, and Vallejo will lead to more financial strain, ratings agency Moody’s argues.