Federal courts

AlphaMetrix to pay $5.6 million in penalties, restitution for diverting rebates

AlphaMetrix to pay $5.6 million in penalties, restitution for diverting rebates

AlphaMetrix 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...

December 18, 2014 | 01:20 pm
Lockheed reaches agreement to settle 401(k) fee case

Lockheed reaches agreement to settle 401(k) fee case

A class-action lawsuit brought by employees of Lockheed Martin Corp. alleging excessive 401(k) plan fees is in the process of being settled.

December 16, 2014 | 05:40 pm
Lockheed 401(k) lawsuit on hold to see if trial can be avoided

Lockheed 401(k) lawsuit on hold to see if trial can be avoided

Lockheed 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.

December 15, 2014 | 03:37 pm

Brief filed in Supreme Court fiduciary-breach case; date set for Lockheed 401(k) trial

The 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. ...

December 03, 2014 | 04:00 pm
Dignity Health allowed to appeal church plan ruling

Dignity Health allowed to appeal church plan ruling

A 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.

December 02, 2014 | 03:35 pm

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

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

November 24, 2014
CalPERS to go unchallenged in San Bernardino bankruptcy plan

CalPERS to go unchallenged in San Bernardino bankruptcy plan

San 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...

November 19, 2014 | 11:58 am
Michigan pension fund sues Hanger Inc. over alleged misrepresentations

Michigan pension fund sues Hanger Inc. over alleged misrepresentations

Pontiac (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...

November 13, 2014 | 03:54 pm
Supreme Court won’t review Tussey vs. ABB fiduciary breach case

Supreme Court won’t review Tussey vs. ABB fiduciary breach case

The 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....

November 10, 2014 | 04:16 pm

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