Courts/legal news and video from Pensions & Investments
Level Global Investors co-founder sentenced to 6½ years in prison
Level Global Investors co-founder and portfolio manager Anthony Chiasson was sentenced Monday by U.S. District Judge Richard Sullivan in New York to serve 78 months in prison and to pay a $5 million fine.
Ex-Diamondback portfolio manager gets 4½ years for insider trading
Todd Newman, a former portfolio manager at hedge fund specialist Diamondback Capital Management, was sentenced to 4½ years in prison for his role in an insider-trading scheme that the U.S. said reaped $72 million.
Eastman Kodak to sell 2 units to U.K. pension fund
Eastman Kodak Co., Rochester, N.Y., agreed to spin off two business units to the £1 billion ($1.5 billion) U.K. Kodak Pension Plan, its largest creditor.
South Carolina panel tussles with state treasurer
Dispute over private equity capital call is catalyst for 5-day hearing before state's Supreme Court.
New York City pension plans sue BP over Deepwater Horizon losses
The five New York City pension plans have sued BP PLC trying to recover investment losses for what they allege were “misleading statements” by the oil company before and after the explosion and oil leak at a BP offshore oil drilling platform in the Gulf of Mexico.
BNY Mellon must face fraud case over currency trades
Bank of New York Mellon Corp. must face a U.S. lawsuit that accuses the world's largest custody bank of defrauding clients in foreign-exchange transactions, a federal judge ruled.
News Corp. settles suit with pension funds
News Corp. has settled a shareholder lawsuit for $139 million relating to breach of fiduciary claims and corporate governance failures related to the company's phone-hacking scandal and the acquisition of Shine Group, a media company previously owned by Elisabeth Murdoch.
South Carolina high court drops suit retirement commission brought in spat with treasurer
The South Carolina Supreme Court late Wednesday dismissed a petition filed by the South Carolina Retirement System Investment Commission against state Treasurer Curtis M. Loftis Jr.
South Carolina treasurer, retirement commission air dispute before state high court
The South Carolina Supreme Court heard arguments on Tuesday from the South Carolina Retirement System Investment Commission seeking a court order directing state Treasurer Curtis M. Loftis Jr. to comply with the mandatory requirements of his job under South Carolina law.
Former Canadian banker settles with SEC over using CPPIB insider information
A former Canadian investment banker who consulted the C$172.6 billion (US$168.8 billion) Canada Pension Plan Investment Board, Toronto, on investment ideas will pay $340,000 to the SEC to settle charges that he used that information for insider trading.
St. Louis Police Retirement System files lawsuit against J.P. Morgan Chase
St. Louis Police Retirement System filed a lawsuit against Chairman and CEO Jamie Dimon and other executives at J.P. Morgan Chase & Co. for breaches of their fiduciary duties related to the bank's chief investment office.
Stockton can stay in bankruptcy over creditor objections
Stockton, Calif., can stay in bankruptcy protection after a judge said he found that the biggest U.S. city in bankruptcy negotiated in good faith with its creditors, and that the creditors didn't.
Wyoming CIO on leave after pleading guilty to SEC insider-trading charges
John Johnson, chief investment officer of the $6.5 billion Wyoming Retirement System, Cheyenne, has been placed on administrative review leave after pleading guilty to SEC charges of insider trading from before his tenure there.
Boeing class-action dismissal upheld as sanctions considered
Boeing Co. won a U.S. appeals court ruling affirming the dismissal of an investor lawsuit accusing company officials of making misleading public statements about the readiness of its 787 “Dreamliner” aircraft.
Supreme Court won't stop class action against Goldman Sachs
Goldman Sachs' bid to stop a class-action lawsuit led by the NECA-IBEW Health & Welfare Fund was rebuffed Tuesday by the Supreme Court, which declined to review the case.