Federal courts

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
J.P. Morgan loses ruling on class certification in RMBS lawsuit

J.P. Morgan loses ruling on class certification in RMBS lawsuit

J.P. Morgan Chase & Co. lost a bid to block buyers of $10 billion worth of residential mortgage-backed securities it packaged in 2007 to proceed as a group with their lawsuit alleging the bank misled ...

October 01, 2014 | 12:07 pm
Supreme Court passes on securities lawsuit timing case

Supreme Court passes on securities lawsuit timing case

The U.S. Supreme Court decided not to weigh in on a case brought by the $25.1 billion Mississippi Public Employees' Retirement System challenging the time limits for investors to join or opt out of...

September 30, 2014 | 03:55 pm
Mississippi PERS' Supreme Court case should be heard, lawyers say

Mississippi PERS' Supreme Court case should be heard, lawyers say

A proposed settlement in a mortgage-backed securities lawsuit should not stop the U.S. Supreme Court from hearing a related case brought by the $25.1 billion Mississippi Public Employees' Retirement...

September 25, 2014 | 03:57 pm
Why the Halliburton decision matters

Why the Halliburton decision matters

The U.S. Supreme Court’s ruling in Halliburton Co. et al. vs. Erica P. John Fund Inc. is a significant victory for institutional investors in pursing securities class-action lawsuits.

September 11, 2014 | 12:17 pm
S.A.C. Capital portfolio manager gets 9 years for insider trading

S.A.C. Capital portfolio manager gets 9 years for insider trading

Former S.A.C. Capital Advisors LP portfolio manager Mathew Martoma was sentenced to nine years in prison for the most lucrative insider-trading scheme in history.

September 08, 2014 | 05:12 pm
Alaska pension fund alleges 13 banks colluded on derivatives benchmark

Alaska pension fund alleges 13 banks colluded on derivatives benchmark

Alaska Electrical Pension Fund, Anchorage, filed a lawsuit Thursday charging that 13 banks conspired to fix the ISDAfix benchmark rate, a “key interest rate for a broad range of interest rate...

September 05, 2014 | 01:44 pm
High court seen likely to take ERISA fidicuary-breach case

High court seen likely to take ERISA fidicuary-breach case

Chances have improved that the Supreme Court could rule on an ERISA fiduciary-breach case involving a dispute over how courts should interpret the law's statute of limitations on fiduciary-breach...

September 01, 2014