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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.
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.
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.
J.P. Morgan settles investor foreign-exchange rigging lawsuit
trueJ.P. Morgan Chase & Co. agreed to settle a lawsuit over its role as one of a number of banks that allegedly rigged prices in the $5 trillion-a-day foreign-exchange market.
Judge allows Eastman Kodak stock-drop case to continue
trueA stock drop case against Eastman Kodak Co. and plan fiduciaries is allowed to continue.
AlphaMetrix to pay $5.6 million in penalties, restitution for diverting rebates
trueAlphaMetrix will pay a $2.8 million penalty and an additional $2.8 million in restitution to participants in its commodities trading pool for taking rebates that were to be reinvested into its pools and diverting the assets to AlphaMetrix’s parent company, as part of a settlement approved Tuesday ...
Lockheed reaches agreement to settle 401(k) fee case
trueA class-action lawsuit brought by employees of Lockheed Martin Corp. alleging excessive 401(k) plan fees is in the process of being settled.
Lockheed 401(k) lawsuit on hold to see if trial can be avoided
trueLockheed Martin Corp. and its workers and retirees agreed to delay a trial over its retirement plans by a day to see whether the dispute can be settled out of court.
Brief filed in Supreme Court fiduciary-breach case; date set for Lockheed 401(k) trial
trueThe Supreme Court should not prevent 401(k) plan fiduciaries from being sued for more expensive investment choices made years earlier, petitioners argued in a brief filed Tuesday in Tibble et al. vs. Edison International et al.
Dignity Health allowed to appeal church plan ruling
trueA federal judge is allowing Dignity Health to challenge his ruling that the church-affiliated defined benefit plan sponsor is covered by the Employee Retirement Income Security Act.
High court won't review fiduciary breach, stock drop cases
trueThe U.S. Supreme Court this month declined two cases involving defined contribution plans.
CalPERS to go unchallenged in San Bernardino bankruptcy plan
trueSan Bernardino said it won't try to reduce its obligations to the $296 billion California Public Employees' Retirement System despite a recent ruling opening the powerful pension fund to such challenges in bankruptcy court.
Michigan pension fund sues Hanger Inc. over alleged misrepresentations
truePontiac (Mich.) General Employees Retirement System filed a securities class-action lawsuit Wednesday on behalf of shareholders of Hanger Inc., an Austin, Texas-based orthotic products and services company.
Supreme Court won't review Tussey vs. ABB fiduciary breach case
trueThe U.S. Supreme Court on Monday declined a petition that it review Tussey et al. vs. ABB Inc. et al., a fiduciary breach case that has been closely watched by the definehttp://edit.pionline.com/apps/pbcsedit.dll/redd contribution plan community.
Labor Department files lawsuit against fiduciaries of Severstal Wheeling Inc.
trueThe Labor Department filed a lawsuit against the fiduciaries of two Severstal Wheeling Inc. defined contribution plans, alleging the fiduciaries “imprudently invested” plan assets, resulting in plan losses in excess of $7 million, court documents show.