Corporate Moves
The Curious Case Against Hedge Funds in Kentucky
Missouri’s new CIO is still fighting a nearly four-year-old lawsuit in Kentucky over investments that appear to have performed as intended.
Tag: lawsuit
Asset Management Culture
Ken Griffin Takes Fire Again Over Robinhood–GameStop Imbroglio
Social media explodes as a lawsuit charges he colluded with the brokerage to thwart meme investors.
Asset Allocation
Twitter to Pay $809.5 Million to Settle Securities Fraud Lawsuit
The social media company was accused of concealing from investors its stagnant user growth and declining user engagement.
Pensions
No Plan Safe From ERISA Lawsuits, Chamber of Commerce Warns
The lobbying group also says a surge in litigation could have ‘significant negative consequences for plan participants.’
Regulation
SEC Charges Could Open Pearson to Securities Lawsuits
With the cease-and-desist order, attorneys might take aim at the publisher over alleged misleading statements.
Coronavirus - COVID-19
Teamsters’ Pension Lawsuit Could Thwart Vaccine Mandates
The union says its pension fund’s mandatory vaccine policy violates collective bargaining agreements.
Regulation
Supreme Court to Hear ERISA Excessive Fee Case
The lawsuit seeks to define what ‘care, skill, prudence, and diligence’ really mean for fiduciaries.
Asset Allocation
Transamerica Settles 401(k) Lawsuit for $5.4 Million
The complaint alleged the insurance giant saddled its plan portfolio with proprietary duds.
Regulation
DOJ Lawsuit Could Hurt Aon-Willis Towers Watson’s Chances in Europe
Legal action could influence whether the European Commission approves the $30 billion acquisition.
Risk
State Street Accused of Self-Dealing With 401(k) Plan
Lawsuit alleges firm breached its fiduciary duties by providing underperforming proprietary funds.
Asset Allocation
Lawsuit Accuses Caesars, Russell Investment of Gambling with 401(k) Plan
The plaintiffs claim switching from State Street has cost participants $100 million in losses.
Pensions
Ohio Retired Teachers Association Sues Ohio STRS for Transparency
The group says the $80 billion pension fund refuses to turn over public documents it needs to conduct an audit.
Pensions
Sterling Bancorp to Pay $12.5 Million to Settle Securities Lawsuit
An Oklahoma pension fund alleged the bank violated federal laws related to residential lending practices.
Risk
Michigan Pension Fund Sues Credit Suisse Over Risk Exposure
The Swiss bank is accused of misleading investors after it lost billions when Greensill and Archegos collapsed.
Risk
Lawsuit: DC Plans More Vulnerable to ERISA Litigation Than DB Plans
Lawyers taking aim at a company’s retirement savings plan say firms with 401(k)s should expect to be sued more than those with traditional pensions.