Federal courts

 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
Cox Enterprises ordered to pay $13.9 million to PBGC for News-Journal plan

Cox Enterprises ordered to pay $13.9 million to PBGC for News-Journal plan

Cox Enterprises Inc. will have to give the Pension Benefit Guaranty Corp. $13.9 million to cover the unfunded pension liabilities of News-Journal Corp.

August 13, 2014 | 06:04 pm
J.P. Morgan accused of self-dealing in managing church trust

J.P. Morgan accused of self-dealing in managing church trust

Christ Church Cathedral, Indianapolis, is suing J.P. Morgan Chase & Co. in federal court, claiming two cathedral trusts lost a total of $13 million from investments managed by the firm from 2004...

August 13, 2014 | 03:37 pm
 Lawsuit against Financial Engines a red flag for plan executives

Lawsuit against Financial Engines a red flag for plan executives

GRQ Investment Management filed a lawsuit Aug. 8 against Financial Engines and Financial Engines Advisors in U.S. District Court claiming Financial Engines infringed on a pair of patents belonging to ...

August 12, 2014 | 11:14 am
Villalobos trial delayed as new charge is added to indictment

Villalobos trial delayed as new charge is added to indictment

The trial of former CalPERS board member Alfred Villalobos was delayed on Friday by U.S. District Judge Charles Breyer to Feb. 23 to give the defense more time to respond to an expanded government...

August 08, 2014 | 04:27 pm