Risk
BlackRock Agrees to Settle ERISA Lawsuit
Asset management giant ends class action litigation by paying plan participants $9.65 million.
Tag: lawsuit
Asset Management Culture
Controversy Still Follows CalPERS’ CIO Resignation
More than a half-year after Ben Meng resigned, a lawsuit and pending pension system policy decisions are bringing his departure back into the limelight.
Risk
Coca-Cola Bottlers Association Faces ERISA Lawsuit
Plaintiffs allege missteps by 401(k) plan fiduciaries cost participants millions of dollars in retirement savings.
Regulation
Court Rules Pensions Can’t Exist in a State of Limbo
In ‘most unusual case,’ judges back PBGC and find that someone must be held responsible for a pension even if the sponsor is long gone.
Risk
Pension Fund Sues Cigna over Failed Anthem Merger
Lawsuit alleges Cigna’s CEO tried to sabotage the $54 billion merger when he found out he wouldn’t lead the new company.
Risk
Northern Trust Sued for Allegedly Loading 401(K) with Proprietary Duds
Lawsuit claims default retirement plan investments have underperformed up to 90% of peers for nearly a decade.
Regulation
UK Pension Cleared to Sue Apple over Alleged Misleading China Comments
Judge says it ‘strains credulity’ that CEO Tim Cook was unaware of potential impact of trade tensions on iPhone sales in China.
Risk
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.
Regulation
Rhode Island Pension Sues Restaurant Brands over Offerings
Lawsuit alleges the fast-food company misled investors about the underperformance of its Tim Hortons chain.
Will Businesses Be Engulfed by Lawsuits Blaming Them for Virus Infections?
A GOP Senate bid to shield companies has helped hold up the next federal stimulus round.
Risk
Canadian Pension Fund Sues Walmart over Alleged Role in Opioid Crisis
Lawsuit claims retail giant failed to prevent opioid prescriptions from flowing into ‘illicit channels.’
Pensions
Court Rules for Colgate Retirees in Benefit Calculation Lawsuit
Colgate may have to pay a total of $300 million to 1,200 retirement plan participants.
Pensions
Teamsters Pension Asks Supreme Court to Reverse PE Firm Withdrawal Ruling
Pension says circuit court ruling ‘provides a blueprint’ for private equity funds to ‘escape withdrawal liability.’
Regulation
Oregon Supreme Court Upholds Pension Benefit Cuts
Unanimous ruling finds that an employer is not prevented from changing the terms of future work.
Princeton Settles Lawsuit over ‘Excessive’ Retirement Plan Fees
University agrees to pay $5.8 million and not raise plan fees for three years.