Federal courts

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  1. High court seen likely to take ERISA fidicuary-breach case

    trueChances have improved that the Supreme Court could rule on an ERISA fiduciary-breach case involving a dispute over how courts should interpret the law's statute of limitations on fiduciary-breach lawsuits, ERISA attorneys say.

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  1. J.P. Morgan accused of self-dealing in managing church trust

    trueChrist Church Cathedral, Indianapolis, is suing J.P. Morgan Chase & Co. in federal court, claiming two cathedral trusts lost a total of $13 million from investments managed by the firm from 2004 through 2013, court documents show.

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  2. Lawsuit against Financial Engines a red flag for plan executives

    trueGRQ Investment Management filed a lawsuit Aug. 8 against Financial Engines and Financial Engines Advisors in U.S. District Court claiming Financial Engines infringed on a pair of patents belonging to GRQ.

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  3. Villalobos trial delayed as new charge is added to indictment

    trueThe trial of former CalPERS board member Alfred Villalobos was delayed on Friday by U.S. District Judge Charles Breyer to Feb. 23 to give the defense more time to respond to an expanded government corruption case.

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  4. Baltimore police and fire pension reforms upheld

    trueA federal appeals court upheld reforms made to the $2.4 billion Baltimore City Fire & Police Employees Retirement System but left the door open for further challenges under a different legal argument.

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  5. Blackstone, KKR, TPG to pay $325 million to end LBO lawsuit

    trueBlackstone Group, KKR & Co. and TPG Capital agreed to pay a combined $325 million to settle nearly 7-year-old claims they colluded to keep leveraged buyout prices low.

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  6. Lockheed Martin 401(k) class-action lawsuit approved for trial

    trueA class-action lawsuit brought by employees of Lockheed Martin Corp., Bethesda, Md., has been approved for trial by a U.S. district court judge.

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  7. Wyoming to benefit from $340 million class-action settlement

    trueThe $7.6 billion Wyoming Retirement System, Cheyenne, is receiving a portion of a $340 million settlement from a lawsuit against former executives and institutions associated with mortgage-backed securities sold by the failed savings and loan IndyMac Mortgage Services, state officials announced.

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  8. Barclays wants dark-pool lawsuit dismissed

    trueBarclays on Thursday filed a motion to dismiss a lawsuit that claims the bank misled clients about the extent of high-frequency trading in its Barclays LX dark pool, saying the complaint does not identify any fraud and has “substantial factual errors.”

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  9. Church pension plan status rejected by U.S. District Court

    trueIn one of five major class-action lawsuits challenging church-affiliated sponsors of defined benefit plans, a federal judge ruled Tuesday that the pension plan of Dignity Health is covered by ERISA.

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  10. Credit Suisse dumping fixed-income commodities trading

    trueCredit Suisse will exit the commodities trading business.

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  11. 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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  12. BP employees can sue for stock losses, appeals court says

    trueBP PLC employees can sue managers of the company’s retirement plan over losses related to the 2010 Gulf of Mexico oil spill, a U.S. appeals court said.

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  13. 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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