Federal courts

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  1. Legal troubles could jeopardize BNP Paribas' U.S. growth plans

    trueBNP Paribas Securities Services' plans to expand in the U.S. could be hampered because of last month's guilty plea by its French banking parent to processing $30 billion in transactions with countries that are under U.S. government sanction.

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  1. Ex-CalPERS CEO Buenrostro pleads guilty, admits to taking cash bribes of $200,000

    trueFormer CalPERS CEO Federico R. Buenrostro pleaded guilty Friday to a charge of conspiracy to commit bribery and fraud, admitting he received $200,000 in cash bribes — in paper bags and a shoe box — from placement agent Alfred Villalobos as part of a plan to influence CalPERS’ investment decisions.

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  2. State Street reaches $60 million settlement over shareholder lawsuit

    trueState Street Corp. has reached a $60 million settlement on a class-action lawsuit led by the $24 billion Mississippi Public Employees' Retirement System, Jackson, and Union Asset Management Holding AG, regarding its foreign-exchange trading services.

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  3. End of prudence presumption raising employer stock questions

    trueThe U.S. Supreme Court ruling in Fifth Third Bancorp. et al. vs. Dudenhoeffer et al. has injected uncertainty into defined contribution plans' use of employer stock in investment menus.

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  4. Court offers guidelines to determine trial likelihood

    trueThe U.S. Supreme Court's decision in Fifth Third Bancorp et al. vs. Dudenhoeffer et al. removed the presumption of prudence standard often used by defined contribution plans to defend their use of employer-stock against fiduciary-breach lawsuits when the company stock sank.

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  5. Precedent is upheld on class-action lawsuits that are spurred by stock losses

    truePension funds and other institutional shareholders pursuing securities class-action lawsuits got a big vote of confidence from the Supreme Court in late June that could lead to more scrutiny of corporate and market practices, and more financial recovery, some experts say.

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  6. Court backs efficient market

    trueThe U.S. Supreme Court made the right decision when it rejected a presumption of prudence as a defense in company stock-drop cases, replacing it with a presumption of market efficiency.

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  7. Supreme Court rejects 'presumption of prudence' defense in ESOP lawsuits

    trueThe U.S. Supreme Court on Wednesday unanimously rejected a frequently used, successful defense by companies against stock-drop lawsuits filed by defined contribution plan participants.

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  8. Shareholder class-action suits curbed by U.S. Supreme Court

    trueThe U.S. Supreme Court imposed new requirements on shareholders seeking to press class-action fraud lawsuits, giving a partial victory to Halliburton Co.

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  9. U.S. Supreme Court rejects Argentina appeal on defaulted bonds

    trueThe U.S. Supreme Court left intact rulings that might force Argentina to pay billions of dollars to holders of repudiated bonds, rejecting the country's appeal in a case that has unsettled its financial markets and triggered threats of a new default.

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  10. Goldman Sachs, Bain to pay $121 million to end buyout lawsuit

    trueGoldman Sachs Group and Bain Capital Partners agreed to pay a total of $121 million to settle claims they cheated investors by suppressing competition in some of the biggest deals of the leveraged buyout boom before the financial crisis.

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  11. Kentucky Retirement Systems to appeal non-profit's exit from pension fund

    trueKentucky Retirement Systems plans to appeal a recent bankruptcy ruling that cleared the way for Seven Counties Services Inc. to leave the $15.5 billion retirement system.

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  12. Citigroup mortgage settlement revived as SEC discretion affirmed by appeals court

    trueCitigroup Inc.’s $285 million mortgage-securities deal with the Securities and Exchange Commission was revived as an appeals court assailed a judge’s demand for more evidence backing up the regulator’s claims.

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  13. 8th Circuit rejects appeals requests in Tussey vs. ABB fiduciary breach case

    trueA federal appeals court has rejected requests from a defendant and plaintiffs to rehear Tussey vs. ABB, a fiduciary breach case.

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