Federal courts

Judge allows institutional investors' lawsuit against Facebook to proceed

Judge allows institutional investors' lawsuit against Facebook to proceed

An investor lawsuit led by North Carolina Retirement Systems against Facebook Inc. and its IPO underwriters can proceed, a federal judge ruled Wednesday.

December 19, 2013 | 03:26 pm
Not so fast in applying Detroit bankruptcy precedent — at least in California

Not so fast in applying Detroit bankruptcy precedent — at least in California

Lest California cities in, or considering, bankruptcy get too euphoric over the mileage they might get from the Detroit ruling on public employee pension rights (“Detroit ruling reverberates...

December 18, 2013 | 11:17 am
Supreme Court declines to stop 401(k) excessive fee case

Supreme Court declines to stop 401(k) excessive fee case

A class-action lawsuit brought by employees of Lockheed Martin Corp. can proceed to trial now that the U.S. Supreme Court declined to hear the company's appeal on Monday.

December 16, 2013 | 04:11 pm

Federal court rejects church plan status for Dignity Health

In the first decision among five major class-action lawsuits challenging church-affiliated sponsors of defined benefit plans, a federal judge found that ERISA rules do apply.

December 16, 2013 | 04:07 pm

Detroit pension funds can go straight to U.S. appeals court

Pension funds opposing Detroit's reorganization were allowed by the judge overseeing the case to go directly to the U.S. Court of Appeals in Cincinnati in their effort to pull the city out of...

December 16, 2013 | 03:38 pm
Supreme Court accepts 401(k) employer stock-drop case

Supreme Court accepts 401(k) employer stock-drop case

The U.S. Supreme Court on Friday agreed to revisit the issue of fiduciary prudence in managing employer stock investment options in defined contribution plans.

December 13, 2013 | 03:55 pm
Judge rules Detroit may reduce pension benefits as part of bankruptcy case

Judge rules Detroit may reduce pension benefits as part of bankruptcy case

Detroit was officially deemed bankrupt by Judge Steven W. Rhodes in U.S. Bankruptcy Court in Detroit on Tuesday.

December 03, 2013 | 01:56 pm
Supreme Court asked to clarify company stock issue in 401(k) plans

Supreme Court asked to clarify company stock issue in 401(k) plans

The appeal of company stock as an investment option in 401(k) plans could dim considerably if the Department of Labor succeeds in having the U.S. Supreme Court revisit the issue of fiduciary prudence ...

November 25, 2013
Argentina loses bid for full-court rehearing of bond appeal

Argentina loses bid for full-court rehearing of bond appeal

Argentina lost its bid for a rehearing of a federal appeals court ruling against it in litigation over $1.5 billion in the nation's defaulted bonds.

November 19, 2013 | 01:15 pm
Judge gives nod to CFTC-MF Global settlement

Judge gives nod to CFTC-MF Global settlement

A federal judge approved a settlement between the Commodity Futures Trading Commission and MF Global Inc. in which the futures broker will repay $1.2 billion to customers and other creditors who lost ...

November 18, 2013 | 01:56 pm

Supreme Court to revisit investor class actions

The Supreme Court agreed Nov. 15 to reconsider a key legal precedent that investors rely on when bringing class-action lawsuits. The petition was brought by Halliburton Co. and backed by numerous...

November 18, 2013 | 03:54 pm
 Ruling upholds Virginia Retirement System, AIMCo complaint against MF Global

Ruling upholds Virginia Retirement System, AIMCo complaint against MF Global

Virginia Retirement System and Alberta Investment Management Corp. may proceed with their class-action securities lawsuit against MF Global Holdings Ltd.; Jon S. Corzine, who was its chairman and...

November 13, 2013 | 03:54 pm

S&P: California’s lawsuit over ratings is attack on free speech

Standard & Poor's is asking a California judge to rule that its credit ratings are opinions protected by state law.

November 13, 2013 | 11:59 am
Illinois SURS sues global banks for monopolizing CDS markets

Illinois SURS sues global banks for monopolizing CDS markets

Illinois State Universities Retirement System, Champaign, accused J.P. Morgan Chase, Goldman Sachs, Bank of America, and 11 other global banking institutions and dealer groups for monopolizing the...

November 11, 2013 | 03:59 pm
CFTC accuses AlphaMetrix of misappropriating $2.8 million

CFTC accuses AlphaMetrix of misappropriating $2.8 million

Alphametrix was accused of misappropriating $2.8 million belonging to pool participants in a lawsuit filed by the Commodity Futures Trading Commission.

November 05, 2013 | 12:43 pm