Courts/legal

Courts/legal news and video from Pensions & Investments

  1. Plumbers & Steamfitters union sues over AbbVie, Shire merger

    truePlumbers & Steamfitters Local 60 Pension Plan, Metairie, La., filed a class-action lawsuit on Monday against AbbVie Inc., several AbbVie executives and Shire PLC regarding the combination of the two firms.

    Articles

  1. Why the Halliburton decision matters

    trueThe U.S. Supreme Court’s ruling in Halliburton Co. et al. vs. Erica P. John Fund Inc. is a significant victory for institutional investors in pursing securities class-action lawsuits.

    Articles

  2. S.A.C. Capital portfolio manager gets 9 years for insider trading

    trueFormer S.A.C. Capital Advisors LP portfolio manager Mathew Martoma was sentenced to nine years in prison for the most lucrative insider-trading scheme in history.

    Articles

  3. Alaska pension fund alleges 13 banks colluded on derivatives benchmark

    trueAlaska Electrical Pension Fund, Anchorage, filed a lawsuit Thursday charging that 13 banks conspired to fix the ISDAfix benchmark rate, a “key interest rate for a broad range of interest rate derivatives and other financial instruments,” according to the filing.

    Articles

  4. High court seen likely to take ERISA fidicuary-breach case

    trueChances have improved that the Supreme Court could rule on an ERISA fiduciary-breach case involving a dispute over how courts should interpret the law's statute of limitations on fiduciary-breach lawsuits, ERISA attorneys say.

    Articles

  5. Washington state high court rules pension benefit reductions are constitutional

    trueThe Washington State Supreme Court upheld as constitutional two bills passed by the state Legislature in 2007 and 2011 that reduced benefits for some participants in several of the state's pension funds.

    Articles

  6. Cox Enterprises ordered to pay $13.9 million to PBGC for News-Journal plan

    trueCox Enterprises Inc. will have to give the Pension Benefit Guaranty Corp. $13.9 million to cover the unfunded pension liabilities of News-Journal Corp.

    Articles

  7. J.P. Morgan accused of self-dealing in managing church trust

    trueChrist Church Cathedral, Indianapolis, is suing J.P. Morgan Chase & Co. in federal court, claiming two cathedral trusts lost a total of $13 million from investments managed by the firm from 2004 through 2013, court documents show.

    Articles

  8. Arizona PSPRS subpoena sought files related to Desert Troon, CIO letters

    trueA federal grand jury investigating the $7.9 billion Arizona Public Safety Personnel Retirement System sought several hundred files related to PSPRS' investments with its largest real estate manager, Desert Troon Cos., and confidential letters the pension fund's Chief Investment Officer Ryan Parham ...

    Articles

  9. Lawsuit against Financial Engines a red flag for plan executives

    trueGRQ Investment Management filed a lawsuit Aug. 8 against Financial Engines and Financial Engines Advisors in U.S. District Court claiming Financial Engines infringed on a pair of patents belonging to GRQ.

    Articles

  10. Villalobos trial delayed as new charge is added to indictment

    trueThe trial of former CalPERS board member Alfred Villalobos was delayed on Friday by U.S. District Judge Charles Breyer to Feb. 23 to give the defense more time to respond to an expanded government corruption case.

    Articles

  11. Arizona PSPRS subpoena a public document, court rules

    trueAn Arizona Superior Court has ruled that a federal grand jury subpoena received by the $7.9 billion Arizona Public Safety Personnel Retirement System is a public document and must be turned over to Judicial Watch, an open-government advocacy group in Washington.

    Articles

  12. Baltimore police and fire pension reforms upheld

    trueA federal appeals court upheld reforms made to the $2.4 billion Baltimore City Fire & Police Employees Retirement System but left the door open for further challenges under a different legal argument.

    Articles

  13. Blackstone, KKR, TPG to pay $325 million to end LBO lawsuit

    trueBlackstone Group, KKR & Co. and TPG Capital agreed to pay a combined $325 million to settle nearly 7-year-old claims they colluded to keep leveraged buyout prices low.

    Articles