Newsmakers
Ryanair Settles Lawsuit With Alabama Pension Fund
The airline agreed to pay $5 million to the Birmingham fire and police pension fund but denied any wrongdoing.
Tag: Litigation
Newsmakers
25 States and 3 Fossil Fuel Industry Actors Sue to Block DOL Rule Permitting ESG Investing
The lawsuit seeks an injunction against the rule, set to take effect Monday, which would allow ESG considerations in retirement plan investment decisions.
Newsmakers
Former Kentucky Pension CIO Charges He Was Fired for Uncovering Fraud
Steven Herbert says his employment was terminated after he discovered that a property company, allegedly, stole money from a retirement system unit.
Manager Selection
Summary Judgement Favors Goldman Sachs in ERISA Lawsuit
A federal judge rules that Goldman Sachs did not violate ERISA by offering proprietary mutual funds as options for its retirement plans.
Regulation
Multiple Employer Pension Plans May Need to Brace Themselves for Lawsuits
Consulting firm October Three says lawyers will likely set their sights on MEPs.
Regulation
Wells Fargo Ex-CEO Stumpf Pays $2.5 Million to Settle SEC Charges He Misled Investors
Former Community Bank head Carrie Tolstedt has also been charged by the regulator.
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
Washington State Investment Board Advances Lawsuit Against Brazilian Company
Court gives green light to WSIB for its bribery case against Brazilian construction company Odebrecht.
American Century Wins 401(k) Class Action Lawsuit
Judge rules that offering employees only proprietary funds does not violate ERISA.
Newsmakers
Dallas Pension Fund Sues Actuary for Malpractice
Police and firefighter pension alleges advisor failed to warn of deferred retirement risks.
TPR Suspends Pension Trustee over Fraud Investigation
Optimum Retirement Benefits Plan's Gordon Craig is being investigated by organized crime unit.
Ohio CEO Convicted of 401(k) Fraud
Attevo Inc.’s Charles Snyder allegedly used funds to support ‘lavish lifestyle.’
Opinion: How not to Get Sued for your DC Plan
Arun Muralidhar shares his thoughts on how corporate pension CIOs can dodge litigation.
Responsibly Handling a DOL Investigation – A Primer for CIOs
During an investigation, DOL typically focuses on a core set of issues.
Regulation
Chattanooga’s Fire and Police Pension Fund Sues Wells Fargo
Tennessee fund accuses trustee of committing ‘systemic nondisclosures.’