Mississippi Pension Sues Portland General Electric over Energy Trading Losses
Lawsuit alleges ‘false and misleading’ statements by the company, its CEO, and its CFO ‘wiped out’ over $300 million in market value.
Risk
Australian Pension Fund Settles Climate Change Lawsuit
Mark McVeigh calls the settlement with Rest pension fund a ‘ground-breaking recognition’ of risks posed by climate change.
Judge Rules Sterne Agee Analyst Complicit in NY Pension Pay-to-Play Scheme
John Paulsen planned ski trip for New York state pension fund fixed-income director in exchange for business directed to firm.
Slow Jobs Recovery to Impact Some State Credit Ratings
Hawaii recently saw a Fitch downgrade to AA, thanks to continued employment losses in the leisure sector.
Rhode Island Pension Sues Restaurant Brands over Offerings
Lawsuit alleges the fast-food company misled investors about the underperformance of its Tim Hortons chain.
Citigroup Targeted by Lawsuit from Florida City Pension in Revlon Mess
The bank’s $900 million mistaken payments to Revlon creditors have harmed its stock, which the retirement system and others are invested in, suit says.
Old British Steel Pension Secures $2.6 Billion Buy-in; Buyout Expected in 2021
UK pension lifeboat PPF said the plan is better funded than expected.
Pennsylvania PSERS Freezes Apollo Global Investments over Epstein Ties
State teachers’ pension fund has more than $900 million invested with Apollo.
Retiree Lift-Outs Boost Pension Risk Transfers to $4 Billion in Q3
Employers are pushing through transactions in the second half of the year after the pandemic forced delays.
Conservative Think Tank Calls for NYC Pension Reform
Manhattan Institute recommends moving to defined contribution plans and consolidating funds.
Oklahoma Firefighters Pension Sues Peabody Energy over Mine Fire
The lawsuit alleges the coal mining company, its CEO and its CFO failed to disclose safety issues.
Software Firm CEO Indicted in $2 Billion Tax Evasion Scheme
Robert Brockman allegedly used a web of offshore entities to hide private equity income from the IRS.
A Likely Electoral ‘Blue Sweep’ Will Steepen Yield Curve, Credit Suisse Says
With Democrats ruling the White House and Congress, bigger federal spending should spur yield-raising inflation, report contends.
Investment Firm Head Sentenced to More Than 7 Years in Prison for Pre-IPO Fraud
Fred Elm falsely told investors they could invest in Twitter, Alibaba, and Uber prior to their IPOs.
JPMorgan Chase to Pay Nearly $1 Billion to Settle Trade Manipulation Charges
Bank avoids criminal charges by agreeing to record $920.2 million CFTC fine and a $35 million SEC fine.