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.”
Tag: Lawsuit
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.’
Newsmakers
Janus Henderson Sued for Allegedly Favoring Its Own Funds in 401(k) Plan
Class action lawsuit claims firm loaded its retirement plan with high-fee, underperforming proprietary funds.
Newsmakers
Philadelphia Union Pension Sues Amazon for Allegedly Lying About COVID Expansion
Lawsuit claims retail giant’s infrastructure investment was a ‘massive, self-imposed, undue drain’ on its finances.
Regulation
New York AG Sues Albany Diocese Over Pension ‘Mismanagement’
Lawsuit seeks to restore lost benefits for more than 1,100 former St. Clare’s Hospital workers.
Regulation
Court Rejects Legal Challenge to Illinois Pension Consolidation
Judge rules that voting for pension board members is not considered a 'benefit' under the state’s constitution.
Newsmakers
New York Common Calls on Tesla to Disclose Spending on Discrimination Complaints
The pension made the move after a racial discrimination lawsuit led to a $130 million verdict in punitive damages.
Newsmakers
Teamsters Pension Applies for Bailout After $58 Million Legal Appeal Dismissed
A circuit court has denied the New York multiemployer pension’s attempt to recover withdrawal liabilities from the bankrupt firm’s new owner.
Newsmakers
UK’s Biggest Pension Fund Facing Lawsuit, Potential Strikes Over Benefit Cuts
The plan is increasing contributions while cutting benefits despite significant investment returns last year.
Newsmakers
Milliman Faces ERISA Lawsuit Over Alleged Breach of Fiduciary Duty
The plaintiffs claim the firm’s 401(k) lost as much as $85 million due to imprudent investment decisions.
Newsmakers
Detroit Pension No Longer Suing Dan Gilbert
The fund had accused the businessman of insider trading.
Risk
Pension Fund Sues Peloton Over Alleged False Statements
The lawsuit claims the fitness company and its executives lied about the prospects of post-COVID growth.
Newsmakers
Ohio Pension Sues Facebook Over Whistleblower Scandal
The lawsuit alleges misleading statements ‘erased more than $100 billion in shareholder value.'
Asset Allocation
New York State Common Retirement Still Holds Boeing Stock, Despite Lawsuit
The fund, which just received a settlement as a result of the litigation, currently has $216 million invested in the aerospace company.