Game Changer? Challenge to Pension Plan Could Bring More Lawsuits
If the Supreme Court backs beneficiaries over US Bank’s overfunded program, look for more actions against company retirement funds.
Tag: Lawsuits
Regulation
Anheuser-Busch InBev Hit with Shareholder Class Action Suit
Suit alleges brewer made false and misleading statements about financial condition.
Regulation
Walgreens Sued for $300 Million over Alleged 401(k) Mismanagement
Suit says poorly performing funds were ‘devastating’ to retirement accounts.
Caesars Wins Withdrawal Liability Lawsuit Against Pension
Court rules casino operator not obligated to pay $2 million withdrawal fee.
Regulation
Louisiana Pension Sues Cardinal Health over Cordis Acquisition
Class action suit alleges company misrepresentations led to ‘artificially inflated’ share prices.
Supreme Court Declines to Hear Two Pension Fund Cases
Lower court rulings involving an automotive, mineworkers’ pensions maintained.
Regulation
Gucci’s Got Expensive Handbags and Expensive Fund Managers, Plaintiffs in Court Settlement Allege
$1.2 million settlement served in allegations Gucci didn’t opt for cheaper investment options when available.
Newsmakers
Supreme Court to Eye Money-Losing Pension Investments
Question is: Can plan beneficiaries sue over risky asset allocations, despite the plan’s return to full funding?
Regulation
Former Otéra CEO Sues CDPQ After Being Fired for ‘Ethical Failings’
Alfonso Graceffa accuses pension giant of conducting smear campaign against him.
Regulation
Kik Sued by SEC for Conducting $100 Million Unregistered ICO
Regulator says firm prevented investors from making informed decisions.
Corporate Moves
Does Anybody Want to Be Wells Fargo’s Next CEO?
Plagued by scandals, big bank Wells Fargo is having a tough time finding a new chief executive.
Newsmakers
Wells Fargo Settles Derivatives Lawsuit with Pensions for $320 Million
Settlement resolves accusations that Wells Fargo breached its fiduciary duties.
Regulation
Boeing Faces Slew of Class-Action Suits over 737 MAX Crashes
Shareholder lawsuits accuse plane maker of concealing safety problems.
Regulation
Hospital Retirees Sue Newark Archdiocese for $2.7 Million in Lost Benefits
Suit claims Archdiocese hid IRS ruling that revoked ERISA protection.
Court Reinstates Two Claims Against UPenn in Pension Suit
Penn is accused of breaching its fiduciary duty by accepting high fees, poor investments.