Courts/legal news and video from Pensions & Investments
Fiduciary breach issue gets Supreme Court hearing
trueThe U.S. Supreme Court is scheduled to hear arguments next month in an ERISA case that could greatly expand guidelines for defined contribution plan executives' fiduciary responsibilities.
NYC Retirement Systems, TIAA-CREF join in lawsuits against American Realty
trueNew York City Retirement Systems and TIAA-CREF have joined a group of investors that allege American Realty Capital Properties, a real estate investment trust, and others violated federal securities laws.
Ex-CalPERS executive Villalobos facing corruption trial dies
trueAlfred Villalobos, a former California Public Employees' Retirement System board member scheduled to stand trial next month for conspiracy and bribery charges, has died in a Nevada gun club.
Investors, companies to fight over who pays litigation fees
trueBattle lines are being drawn over last year's Delaware court ruling that lets companies shift legal fees to investors bringing lawsuits.
Judge rejects motion to dismiss in Advocate church plan case
trueA church plan challenge filed against Advocate Health Care Network Pension Plan can proceed, a federal judge ruled Dec. 31.
J.P. Morgan settles investor foreign-exchange rigging lawsuit
trueJ.P. Morgan Chase & Co. agreed to settle a lawsuit over its role as one of a number of banks that allegedly rigged prices in the $5 trillion-a-day foreign-exchange market.
Second suit filed over legality of Chicago pension reform
trueA second lawsuit challenging the legality of a 2014 Chicago pension reform law was filed in Cook County Circuit Court Monday.
Highland Capital wins $40 million award in Credit Suisse case
trueHighland Capital Management won a $40 million jury award after successfully arguing Credit Suisse AG duped the debt manager into refinancing a shaky real estate development.
Judge allows Eastman Kodak stock-drop case to continue
trueA stock drop case against Eastman Kodak Co. and plan fiduciaries is allowed to continue.
AlphaMetrix to pay $5.6 million in penalties, restitution for diverting rebates
trueAlphaMetrix will pay a $2.8 million penalty and an additional $2.8 million in restitution to participants in its commodities trading pool for taking rebates that were to be reinvested into its pools and diverting the assets to AlphaMetrix’s parent company, as part of a settlement approved Tuesday ...
Lockheed reaches agreement to settle 401(k) fee case
trueA class-action lawsuit brought by employees of Lockheed Martin Corp. alleging excessive 401(k) plan fees is in the process of being settled.
Unions file lawsuit challenging constitutionality of Chicago pension reform law
trueFour labor unions, along with active and retired city workers, filed a lawsuit Tuesday that argues a Chicago pension reform law violates Illinois' constitutional clause that pension benefits should not be “diminished or impaired.”
Lockheed 401(k) lawsuit on hold to see if trial can be avoided
trueLockheed Martin Corp. and its workers and retirees agreed to delay a trial over its retirement plans by a day to see whether the dispute can be settled out of court.
Illinois Supreme Court to hear opening arguments on state pension law in March
trueThe Illinois Supreme Court will hear oral arguments on the constitutionality of Illinois’ pension law in March, in line with Attorney General Lisa Madigan’s request that the case be heard on an expedited basis.
Illinois attorney general seeks expedited hearing on pension law
trueIllinois Attorney General Lisa Madigan's office is seeking an expedited state Supreme Court hearing on the state's 2013 pension law after a lower court ruled last month the law was unconstitutional.