A judge in Manhattan District Court has rejected a bid by former Lehman Brothers executives and affiliates to dismiss a case alleging misleading practices, as the lawsuits that investors have filed against financial institutions continue to creep forward.
An investment analyst has sued the $5.5 billion Alameda County Employees’ Retirement Association for allegedly threatening to fire him after he accused the fund’s CIO of falsifying time slips.
As banks around the country have faced lawsuits by pension funds, regulators, and other agencies over their mortgage-lending practices during the housing market collapse, Wells Fargo now battles allegations of discriminatory lending.
The Massachusetts Laborers’ Pension and Annuity Funds has sued Rupert Murdoch and other News Corp directors over lack of oversight and a breach of fiduciary trust, adding to a growing list of investor lawsuits hitting News Corp in the midst of the phone hacking scandal.
The Court of Appeals of Maryland has ruled that Milliman, Maryland State Retirement and Pension System’s actuary from 1982 to 2006, is liable for damages of approximately $73 million for faulty actuarial valuations that left the state’s plans underfunded.
The chairman of Dutch pension fund manager Algemene Pensioen Group wants to lessen regulations that have prevented the firm from reclaiming Dutch pension assets whose management has fallen into foreign hands, the Financial Times has reported.
Three Louisiana state pension funds’ failed attempts to withdraw assets from hedge fund Fletcher Asset Management have drawn the attention of the Securities and Exchange Commission.
News Corporation shareholders have sued the Rupert Murdoch-owned company, alleging that the board failed to exercise proper oversight and take sufficient action since news of phone hacking first emerged at its subsidiary nearly six years ago.
The Governmental Accounting Standards Board (GASB) has published proposals to improve the way US state and local governments report pension liabilities.
State and federal regulators have ordered JPMorgan to pay $228 million in a settlement of allegations that the bank's securities division rigged the market for municipal bond derivatives.
Lehman Brothers Holdings has reached an agreement among several creditor groups, including Paulson & Co, a large Lehman bondholder, and Goldman Sachs, a derivatives counterparty to Lehman.
Australian superannuation funds need to begin preparing themselves for impending regulatory reform to avoid being caught flat-footed, consultants have warned.
