Federal courts

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  1. Supreme Court rules against Edison in 401(k) fiduciary breach case

    trueThe U.S. Supreme Court on Monday broadened the responsibility of defined contribution plans, saying they have a “continuing duty to monitor trust investments and remove imprudent ones” even though federal law sets a six-year time limit for lawsuits alleging breaches of fiduciary duty.

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  1. Patriarch Partners files suit to have SEC charges heard in U.S. District Court

    truePatriarch Partners and CEO Lynn Tilton are fighting back against charges announced by the SEC on Monday involving three of the private equity firm's funds.

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  2. Ameriprise Financial to pay $27.5 million in settlement with 401(k) participants

    trueAmeriprise Financial Inc. will pay $27.5 million as part of a preliminary settlement with participants in its 401(k) plan, said a court document published Thursday.

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  3. Supreme Court clarifies litigation path for securities statements

    trueThe U.S. Supreme Court on Tuesday remanded a case challenging whether investors can successfully sue if a securities registration statement contains potentially misleading opinions.

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  4. SEC pay-to-play critics get their day in court

    trueRepublican state committees in New York and Tennessee asked a federal appeals court in Washington on Monday to overturn the Securities and Exchange Commission’s pay-to-play rule.

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  5. Supreme Court could take on case involving fiduciary burden of proof, damages

    trueThe Supreme Court signaled its interest in taking a case questioning whether fiduciaries bear the burden of proof and whether they can be liable for monetary damages.

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  6. http://www.pionline.com/article/20150304/ONLINE/150309941/-1/ramp//

    trueLitigation, regulation, legislation and some consternation emerged as dominant themes at the annual Pensions & Investments' East Coast Defined Contribution Conference, held March 1-3 in Miami.

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  7. Supreme Court hears arguments on fiduciary breach lawsuit; decision expected before summer

    trueThe Supreme Court heard arguments Tuesday in a case questioning how to interpret the Employee Retirement Income Security Act's six-year statute of limitations on fiduciary breach lawsuits.

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  8. Northern Trust to pay $36 million in securities lending settlement

    trueNorthern Trust Corp. will pay $36 million to settle a class-action lawsuit filed by 1,500 retirement plans that accused the firm of causing large losses stemming from the bank's securities lending program during the financial crisis

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  9. Ohio PERS seeks lead-plaintiff status in Petrobras lawsuit

    trueOhio Public Employees Retirement System is seeking lead-plaintiff status in a consolidated class-action lawsuit against Brazilian oil and gas company Petroleo Brasileiro SA for violations of federal securities laws.

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  10. 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.

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  11. 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.

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  12. 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.

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  13. 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.

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