Tag: Lawsuits

IMHO: “Smoke” Signals

Plan sponsors spend a lot of time wondering—and worrying—about the “right” way to do things.   

NY State Fund Sues BofA, Merrill

New York state Comptroller Thomas DiNapoli has filed separate suits against Bank of America (BofA) and its Merrill Lynch unit for losses connected with BofA’s purchase of Merrill and Merrill’s alleged misrepresentations over its subrprime mortgage exposure.

NM Fund Ponders Aldus Lawsuit

The New Mexico Educational Retirement Board has hired two law firms to represent the teachers’ pension fund in a planned lawsuit against a Dallas money management firm. 

Hard to Fit

Despite interest by clients, ETFs are not a slam dunk in retirement plans

Securities Class Actions on the Rise

The value and number of securities class-action settlements increased in 2009 from 2008, according to "Securities Class Action Settlements: 2009 Review and Analysis," an annual report by Cornerstone Research.

The Path Ahead

Plan sponsors want more fee disclosure, and regulators will likely require it soon. That is both a threat and an opportunity for advisers.

Wells Fargo Agrees to $1.4M Buyback of ARS

California Attorney General Edmund G. Brown Jr. announced a $1.4-billion settlement with three Wells Fargo affiliates to pay back investors, charities, and small businesses that purchased auction-rate securities (ARS) based on "misleading advice."

Madoff Victims Sue SEC

Two investors are pointing their fingers at the U.S. government for failing to stop Bernard Madoff’s giant Ponzi scheme.

Failed Bank Slammed with Eight Stock-Drop Actions

Colonial Bank, a now-defunct Alabama bank company, has been hit with eight stock-drop suits over losses suffered by its pension plan when the bank was seized by regulators, according to an Associated Press report.

IMHO: When You Assume…

Somewhere in the course of your professional life, you have no doubt heard (or used) the expression about what happens when you assume1.

IMHO: Domino Theories

If you want to get a quick sense of just how fast time flies, consider that it was only a year ago this week that Lehman Brothers filed for bankruptcy.