A Los Angeles jury has ordered the Commonfund to pay $50.3-million in damages for breach of fiduciary duty to its partner in a series of Hollywood development projects, Bloomberg has reported.
The top financial regulatory board in the United States has laid out standards by which insurance companies, hedge funds, and other non-bank financial firms could fall under stricter regulation, yet industry sources voice apprehension that firms may be overburdened by regulation and reporting.
Hoping to recover its value following the collapse of Lehman Brothers, Standard Life is suing 11 of its insurers who refused to pay a claim related to a cash injection into one of its pension funds.
As part of an inquiry by the US Securities and Exchange Commission to investigate the role of middlemen among pensions, the regulator has subpoenaed officials of Kentucky Retirement Systems to be interviewed.
According to the UK’s leading shareholder activist body, it is imperative for News Corp to overhaul its board structure in the wake of its phone hacking scandal.
BNY Mellon has been sued by the New York attorney general and the United States attorney in Manhattan, who claim the financial institution defrauded New York City pension funds and other retirement plans nationwide over the price of foreign-exchange transactions.
US District Judge James O. Browning in Albuquerque, New Mexico has ruled that Moody’s Corp., Fitch Inc. and Standard & Poor’s must face a New Mexico securities lawsuit.
Morgan Stanley has won the dismissal of a Virgin Islands government pension fund lawsuit accusing the bank of defrauding investors of $1.2 billion of risky mortgage debt that it expected to fail.
British businesses will be negatively impacted if schemes are forced into Solvency II capital requirements, the Confederation of British Industry has cautioned.
Goldman Sachs' board of directors has won the dismissal of a lawsuit seeking to recover billions of dollars of bonus payouts and other compensation awarded for 2009.
