Watch breaking news videos and read news updates about Federal Courts on pionline.com
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.
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.
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.
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.
Pacific Corporate Group sues CalPERS' placement agent investigators
Christopher Bower and alternative investment consulting and money management firm Pacific Corporate Group are suing the lawyer, his law firm and the consulting firm CalPERS hired to investigate the use of placement agents by the $254.9 billion pension fund's money managers.
Private equity firms lose bid to dismiss antitrust lawsuit
A federal judge declined to dismiss a case against 11 of the largest buyout firms and investment banks for allegedly colluding to suppress competition, according to an order filed Wednesday.
Fidelity Investments faces fresh lawsuit over float income
Participants from three more 401(k) plans have sued Fidelity Investments, alleging the company violated ERISA through its use of float income.
Supreme Court rules on class action, Gabelli cases
The Supreme Court Wednesday rebuffed efforts to make stock-loss class-action lawsuits more difficult to start, siding with an investor group led by the $24.3 billion Connecticut Retirement Plans & Trust Funds against Amgen Inc.
Providence, R.I., sues Buck Consultants over pension savings calculations
Providence, R.I., on Tuesday filed a lawsuit against Buck Consultants, its longtime pension actuary, accusing the firm of miscalculating $700,000 of savings the city expected this year through pension reform.