Risk
Florida Pension Sues Grand Canyon Education
Class action lawsuit alleges company artificially inflated stock price.
Tag: Lawsuits
Regulation
Ohio Court Rules Segal Blend Violates ERISA
Case has ‘significant ramifications’ for employers contesting their withdrawal liability from multiemployer plans.
Newsmakers
Supreme Court Rules Pensioners in Fully Funded Plans Can’t Serve ERISA Suits
Plaintiffs charging mismanagement of funds would have received the same fixed payment regardless of investment outcomes, the ruling said.
Risk
Georgetown University Student Demands Tuition Refund for COVID Losses
The school has reaped ‘millions of dollars’ in tuition fees after switching to online classes, despite boasting a $1.8 billion endowment, suit says.
Manager Selection
Florida Pension Fund Sues Ryder System for Securities Fraud
Lawsuit alleges the transport company’s executives overstated the residual value of its fleet.
Regulation
Judge Dismisses Trader Joe’s ERISA Lawsuit
Court ruling shoots down five allegations of breach of fiduciary duty.
Regulation
Musicians Pension Settles Lawsuit Over ‘Risky’ Investments
Trustees accused of acting like ‘drunken gamblers’ pay nearly $27 million, deny wrongdoing.
Risk
Michigan Pension Fund Sues World Wrestling Entertainment
WWE lawyer calls accusations of insider trading by CEO Vince McMahon ‘entirely fictional.’
Asset Management Culture
Pattern Energy Calls Lawsuit Challenging CPPIB Acquisition a ‘PR Stunt’
Water Island Capital, which owns 4% of the firm, says the offer price is too low.
Regulation
Boston Pension Fund Files Class Action Lawsuits Against Six Flags, HP
Electrical Workers Pension Fund claims investments in Six Flags and HP tumbled 44% and 30%, respectively.
Regulation
Rhode Island Pension Alleges Zuckerberg Overpaid 2019 Settlement to Avoid Personal Consequences
State Treasury says Facebook overpaid Cambridge Analytica settlement by $2 billion to win extra concessions from the feds.
Regulation
Norwegian Internet Company Opera Sued over ‘Misleading’ IPO Documents
Class action lawsuit accuses software firm of predatory lending practices.
Asset Allocation
National Australia Bank Trustees Sued for Mismanaging Pension Assets
Class action suit on behalf of 330,000 members alleges breach of duties.
Asset Management Culture
Detroit Pension Sues Own Investment Committee over Deputy CIO Pay Raise
Police and Fire retirement system seeks to stop 75% pay increase to former deputy CIO.
Regulation
Northrop Grumman Pays $12.4 Million to Settle 401(k) Lawsuit
Lawsuit said firm’s alleged fiduciary failures caused plan to lose over $13 million