Tag: Lawsuits

Multinational pharmaceutical company Sanofi is being investigated for possible ERISA violations after continuing to offer company stock as a retirement plan investment option, despite alleged knowledge that it...

A recent $140 million fiduciary breach settlement involving Nationwide Financial should be a call to action for retirement specialist advisers, says David Witz of Fiduciary Risk Assessment LLC.

A lawsuit filed by the Massachusetts Bay Transportation Authority (MBTA) pension fund claims New York investment manager Alphonse Fletcher Jr. defrauded investors of $50 million.

A federal district court in northern Indiana ruled a retirement plan sponsor must pay nearly $4,500 in penalties for failing to provide historical, plan-related documents.

The Department of Labor (DOL) won judgment from a federal district court to have funds restored to a retirement plan based in Ayer, Massachusetts.

Frederick J. O’Meally had a final judgment entered against him by a federal court in New York stemming from an action filed by the Securities and Exchange Commission...

A $220 million settlement agreement resolves a lawsuit brought by the Department of Labor against four investment management firms.

The 2nd U.S. Circuit Court of Appeals reversed a lower court’s dismissal of a securities fraud lawsuit brought by four pension funds.

Two New York insurance agent and broker groups appealed a judge's decision upholding a state regulation that requires producers to disclose incentive compensation. 

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

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...

The Securities and Exchange Commission (SEC) has obtained an emergency asset freeze against two Canadians who advertised fraudulent penny stocks online.

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. 

There’s a potential settlement in sight for participants in a 401(k) stock drop suit.

The Securities and Exchange Commission (SEC) has announced a distribution of nearly $185 million to more than 800 mutual funds that were affected by illegal market timing by...

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...

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...