Federal courts

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  1. 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 ...

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  1. 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.

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  2. 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.

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  3. 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.

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  4. High court won't review fiduciary breach, stock drop cases

    trueThe U.S. Supreme Court this month declined two cases involving defined contribution plans.

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  5. 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.

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  6. 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.

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  7. 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.

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  8. 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.

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  9. Justice Department targets J.P. Morgan Chase forex business in criminal probe

    trueJ.P. Morgan Chase & Co.'s foreign exchange trading business is the target of a criminal probe by the U.S. Department of Justice, said a company filing with the SEC Monday.

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  10. Supreme Court hears arguments on Omnicare securities case

    truehe Supreme Court heard arguments Monday in a lawsuit challenging whether investors have a legal case if a securities registration statement contains opinions that could be considered misleading.

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  11. Appeals court allows Amgen stock-drop case to continue

    trueA federal appeals court judge ruled Thursday that an ERISA case challenging a presumption of prudence for employee stock ownership plans can continue.

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  12. Lawsuit by Girl Scout council dismissed

    trueA federal appeals court dismissed a lawsuit against the Girl Scouts of the USA brought by a local council, ruling that member employers in multiple-employer defined benefit plans have little recourse under the Employee Retirement Income Security Act to challenge unilateral actions by plan sponsors.

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  13. eVestment countersues Compass iTech

    trueeVestment filed a countersuit against Compass iTech, alleging the company illegally entered the eVestment database on several occasions and stole restricted data for its own commercial gain.

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