Federal courts

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.

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.

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, 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.

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 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.

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.

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.

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.

Participants from three more 401(k) plans have sued Fidelity Investments, alleging the company violated ERISA through its use of float income.

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.