Federal courts

 Barclays wants dark-pool lawsuit dismissed

Barclays wants dark-pool lawsuit dismissed

Barclays on Thursday filed a motion to dismiss a lawsuit that claims the bank misled clients about the extent of high-frequency trading in its Barclays LX dark pool, saying the complaint does not...

July 24, 2014 | 11:11 am

Church pension plan status rejected by U.S. District Court

In one of five major class-action lawsuits challenging church-affiliated sponsors of defined benefit plans, a federal judge ruled Tuesday that the pension plan of Dignity Health is covered by ERISA.

July 23, 2014 | 04:17 pm
Credit Suisse dumping fixed-income commodities trading

Credit Suisse dumping fixed-income commodities trading

Credit Suisse will exit the commodities trading business.

July 22, 2014 | 06:10 pm
Legal troubles could jeopardize BNP Paribas' U.S. growth plans

Legal troubles could jeopardize BNP Paribas' U.S. growth plans

BNP Paribas Securities Services' plans to expand in the U.S. could be hampered because of last month's guilty plea by its French banking parent to processing $30 billion in transactions with...

July 17, 2014 | 02:36 pm

BP employees can sue for stock losses, appeals court says

BP PLC employees can sue managers of the company’s retirement plan over losses related to the 2010 Gulf of Mexico oil spill, a U.S. appeals court said.

July 16, 2014 | 04:00 pm
Ex-CalPERS CEO Buenrostro pleads guilty, admits to taking cash bribes of $200,000

Ex-CalPERS CEO Buenrostro pleads guilty, admits to taking cash bribes of $200,000

Former CalPERS CEO Federico R. Buenrostro pleaded guilty Friday to a charge of conspiracy to commit bribery and fraud, admitting he received $200,000 in cash bribes — in paper bags and a shoe...

July 11, 2014 | 02:13 pm

State Street reaches $60 million settlement over shareholder lawsuit

State Street Corp. has reached a $60 million settlement on a class-action lawsuit led by the $24 billion Mississippi Public Employees' Retirement System, Jackson, and Union Asset Management Holding...

July 09, 2014 | 03:56 pm

Court offers guidelines to determine trial likelihood

The U.S. Supreme Court's decision in Fifth Third Bancorp et al. vs. Dudenhoeffer et al. removed the presumption of prudence standard often used by defined contribution plans to defend their use of...

July 07, 2014
End of prudence presumption raising employer stock questions

End of prudence presumption raising employer stock questions

The U.S. Supreme Court ruling in Fifth Third Bancorp. et al. vs. Dudenhoeffer et al. has injected uncertainty into defined contribution plans' use of employer stock in investment menus.

July 07, 2014
Precedent is upheld on class-action lawsuits that are spurred by stock losses

Precedent is upheld on class-action lawsuits that are spurred by stock losses

Pension funds and other institutional shareholders pursuing securities class-action lawsuits got a big vote of confidence from the Supreme Court in late June that could lead to more scrutiny of...

July 07, 2014
Court backs efficient market

Court backs efficient market

The U.S. Supreme Court made the right decision when it rejected a presumption of prudence as a defense in company stock-drop cases, replacing it with a presumption of market efficiency.

July 07, 2014
Supreme Court rejects 'presumption of prudence' defense in ESOP lawsuits

Supreme Court rejects 'presumption of prudence' defense in ESOP lawsuits

The U.S. Supreme Court on Wednesday unanimously rejected a frequently used, successful defense by companies against stock-drop lawsuits filed by defined contribution plan participants.

June 25, 2014 | 03:30 pm

Shareholder class-action suits curbed by U.S. Supreme Court

The U.S. Supreme Court imposed new requirements on shareholders seeking to press class-action fraud lawsuits, giving a partial victory to Halliburton Co.

June 23, 2014 | 12:09 pm
U.S. Supreme Court rejects Argentina appeal on defaulted bonds

U.S. Supreme Court rejects Argentina appeal on defaulted bonds

The U.S. Supreme Court left intact rulings that might force Argentina to pay billions of dollars to holders of repudiated bonds, rejecting the country's appeal in a case that has unsettled its...

June 16, 2014 | 12:39 pm
Goldman Sachs, Bain to pay $121 million to end buyout lawsuit

Goldman Sachs, Bain to pay $121 million to end buyout lawsuit

Goldman Sachs Group and Bain Capital Partners agreed to pay a total of $121 million to settle claims they cheated investors by suppressing competition in some of the biggest deals of the leveraged...

June 12, 2014 | 02:08 pm