Courts/legal
BNY Mellon faces amended U.S. complaint over forex trades
Bank of New York Mellon faces an amended complaint filed by federal government claiming the firm defrauded clients of more than $1.5 billion through foreign-exchange trades.
February 17, 2012 | 03:41 pm
Oregon seeks to co-lead forex class action against BNY Mellon
The state of Oregon is seeking co-lead plaintiff status in a securities fraud class-action lawsuit against Bank of New York Mellon.
February 14, 2012 | 05:54 pm
Michigan unions sue to halt mandated DB-or-DC choice
A new Michigan law requiring state employees to either contribute 4% of pay to the $9.1 billion Michigan State Employees' Retirement System, Lansing, or join a defined contribution plan is...
February 14, 2012 | 04:01 pm
BP must face investors’ fraud claims tied to oil spill
BP PLC must face fraud claims by investors who said the company lied about its accident response capability before and after the 2010 Gulf of Mexico oil spill, a federal judge said.
February 14, 2012 | 01:45 pm
Morgan Lewis adds 2 partners
Marla Kreindler and Julie Stapel were named partners at the law firm of Morgan, Lewis & Bockius' employee benefits and executive compensation practice.
February 10, 2012 | 04:07 pm
AFTRA pension fund in settlement with J.P. Morgan
J.P. Morgan Chase reached an “agreement in principal” to settle a class-action lawsuit filed by the $1.5 billion American Federation of Television and Radio Artists Retirement Fund and...
February 08, 2012 | 12:27 pm
PBGC worthy opponent in AMR bankruptcy fight
The PBGC and its director, Joshua Gotbaum, have a fighting chance of winning their battle against American Airlines, which is trying to terminate four pension plans as part of parent AMR Corp.'s...
February 06, 2012
Oklahoma Firefighters pension plan sues over Student Loan Corp. losses
Citigroup, Discover Financial Services and Student Loan Corp. were sued by the $1.7 billion Oklahoma Firefighters Pension & Retirement System over claims that Student Loan Corp. misled investors...
February 06, 2012 | 02:42 pm
PBGC updates estimate of funding relief for American Airlines
Congress gave American Airlines an estimated $2.1 billion in pension funding relief over the past six years, nearly double an earlier estimate, the PBGC announced Monday.
February 06, 2012 | 04:06 pm
Prudential unit may get $28 million from State Street
Prudential Retirement Insurance and Annuity is entitled to $28 million under a ruling by a federal court judge who found that State Street Bank and Trust breached its fiduciary duty in managing two...
February 03, 2012 | 03:55 pm
Motorola Solutions agrees to pay $200 million to settle investor suit
Motorola Solutions Inc. agreed to pay $200 million to settle a 2007 investor lawsuit co-led by two Michigan pension plans that accused the company of overstating its sales prospects.
February 03, 2012 | 01:46 pm
American Airlines to drop DB pension plans
AMR Corp.'s American Airlines plans to terminate its four pension funds and start offering new 401(k) plans to employees, according to American's website.
February 01, 2012 | 03:38 pm
Tribune to contribute $4.5 million to settlement of retirement fund lawsuit
Tribune Co., Chicago, will contribute $4.45 million to the $32 million settlement of an employee retirement-fund lawsuit to which it no longer is a party.
January 30, 2012 | 03:36 pm
Dutch fund giant ABP sues Goldman Sachs over RMBS statements
Stichting Pensioenfonds ABP sued Goldman Sachs Group in New York State Superior Court on Friday, accusing the investment bank of making false or misleading statements in selling residential mortgage-...
January 27, 2012 | 05:52 pm
PBGC: American Airlines employees should worry about pensions
The PBGC on Thursday warned American Airlines' employees that they should worry about their pension benefits.