Federal courts

Labor Department files lawsuit against fiduciaries of Severstal Wheeling Inc.

The Labor Department filed a lawsuit against the fiduciaries of two Severstal Wheeling Inc. defined contribution plans, alleging the fiduciaries “imprudently invested” plan assets,...

November 04, 2014 | 04:14 pm
Justice Department targets J.P. Morgan Chase forex business in criminal probe

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

J.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.

November 04, 2014 | 09:26 am

Supreme Court hears arguments on Omnicare securities case

he 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.

November 03, 2014 | 04:09 pm

New York State Teachers given lead-plaintiff status in GM suit

New York State Teachers’ Retirement System has been approved as lead plaintiff in a class-action lawsuit against General Motors Co., claiming GM committed fraud in its disclosure of faulty...

October 31, 2014 | 04:50 pm

Appeals court allows Amgen stock-drop case to continue

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

October 30, 2014 | 03:47 pm

Lawsuit by Girl Scout council dismissed

A 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 ...

October 27, 2014 | 04:09 pm

eVestment countersues Compass iTech

eVestment 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.

October 22, 2014 | 06:22 pm

Compass iTech files suit against eVestment for 'campaign' against the firm

Compass iTech filed a lawsuit against eVestment for allegedly leading a “disruptive and destructive campaign” against the company and its data entry tool, ProFusion, following failed...

October 21, 2014 | 04:14 pm
Political groups appeal SEC pay-to-play rule

Political groups appeal SEC pay-to-play rule

A federal limit on political contributions by money managers doing business with public pension funds is working so well that some political groups are continuing to challenge it in court.

October 13, 2014

Challenges from 401(k) fiduciary breaches litigation

With ERISA entering its 41st year, commentators highlighting the landmark legislation's successes and failures have paid little attention to the newfound focus on fiduciary responsibility resulting...

October 13, 2014

Judge rejects Citigroup request for dismissal of 401(k) fees suit

A federal court judge in New York has rejected a Citigroup request for summary dismissal of a class-action lawsuit filed by two participants of a Citigroup 401(k) plan who allege the plan charged...

October 10, 2014 | 03:46 pm
 Impact of Stockton decision uncertain

Impact of Stockton decision uncertain

It remains to be seen whether a judge’s statement Wednesday that bankrupt Stockton, Calif., can cancel its contracts with CalPERS will have an impact on retirees and weaken vested pension rights.

October 02, 2014 | 04:19 pm
Supreme Court agrees to hear case on fiduciary breach time limits

Supreme Court agrees to hear case on fiduciary breach time limits

The Supreme Court agreed Thursday to decide whether 401(k) plan fiduciaries can be sued for more expensive investment choices made years earlier.

October 02, 2014 | 03:33 pm

Citigroup ordered to turn over Banamex files to pension fund

Citigroup Inc., which is probing reports its Mexican unit was involved in $430 million of fraudulent loans, was ordered by a judge to turn over internal records about the deals to an Oklahoma pension ...

October 02, 2014 | 02:52 pm
Church plan fiduciaries can be sued, U.S. judge says

Church plan fiduciaries can be sued, U.S. judge says

Fiduciaries of church-affiliated defined benefit plans can be sued for breach of duty, even if the plan has church plan status, a federal judge has ruled.

October 02, 2014 | 02:42 pm