Risk
Ohio Pension Sues Amazon for Snubbing SpaceX in Favor of Blue Origin
Lawsuit alleges that ‘personal rivalry influenced Amazon’s procurement process.’
Tag: Lawsuit
Risk
Michigan Pension Loses Lawsuit Against Unilever Over Ben & Jerry’s Israel Boycott
A federal judge dismissed a case that alleged Unilever misled investors by concealing a board resolution.
Pensions
Pennsylvania PSERS Sues Aon Over Accounting Error
The pension fund accuses Aon of breach of contract, breach of fiduciary duty and negligence.
Newsmakers
Former Ohio Teachers Board Member Sues Pension, Governor
Wade Steen claims he was illegally removed from the board of Ohio’s State Teachers Retirement System.
Newsmakers
Ryanair Settles Lawsuit With Alabama Pension Fund
The airline agreed to pay $5 million to the Birmingham fire and police pension fund but denied any wrongdoing.
Market Moves
Wells Fargo Agrees to Pay $1 Billion to Settle Pension-Led Lawsuit
Mississippi’s public employees' fund, a Louisiana sheriffs’ fund and the state of Rhode Island were among the lead plaintiffs.
Newsmakers
NYC Pension Funds Sued for Divesting $4 Billion in Fossil-Fuel Assets
The complaint alleges breach of fiduciary duty in ‘misguided and ineffectual gesture to address climate change.’
Risk
Florida Pension Sues Fidelity National Over Worldpay Deal
The fintech firm is accused of failing to disclose material information that led to a $17.6 billon write-down.
Risk
Pension Funds Sue Silicon Valley Bank’s Officers, Auditor KPMG Following Failure
Complaint alleges the company's executives and its auditor ‘understated and concealed’ the risks posed by rising interest rates.
Regulation
Australian Regulator Accuses Mercer Super of Greenwashing
The nation’s Securities and Investments Commission is suing the pension fund for allegedly misleading members about sustainability.
Newsmakers
Court Refuses to Dismiss Central States Pension Lawsuit
District of Northern Illinois judge finds employer liable for withdrawing from pension obligations during collective bargaining agreement transition.
Newsmakers
Sequoia Capital, Thoma Bravo, Paradigm Sued for Touting FTX
Investment firms allegedly made ‘deceptive and misleading statements’ to promote the failed crypto exchange.
Newsmakers
Swedish Pension Fund AP7 Sues Microsoft, Activision Over Takeover Deal
Lawsuit alleges shareholders were hurt because $68.7 billion acquisition process was “done incorrectly.”
Newsmakers
PSERS Exploring Legal Action Stemming from Reporting Error
The 2020 fund reporting error’s revision triggered the state’s shared-risk provision, which required school districts, as plan providers, and plan participants to pay more into the system.
Risk
Florida Pension Funds Sue Barclays Over $17.6 Billion Debt Over-Issuance
The Miami pensions call the bank’s failure to prevent massive error ‘deliberately reckless.’