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.
Tag: Participant Lawsuits
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.
A federal judge has dismissed a lawsuit alleging a New York state teachers group breached its fiduciary duty by paying “kickbacks” to ING Life Insurance and Annuity Co.
The 6th U.S. Circuit Court of Appeals has reopened a case in which retirees of LG Philips Displays are seeking to be reinstated with health benefits that ended after their previous employer filed bankruptcy.
A federal judge has thrown out a stock-drop lawsuit against drugmaker
Schering-Plough, but has permitted plaintiffs to strengthen its
allegations of wrongdoing and refile it.
A federal judge in Connecticut has ruled that a drug company improperly forced out its chief patent counsel after the lawyer reached age 65 in 2004.
Montgomery, Alabama-based Colonial Bank, closed by authorities in August, has been hit with a stock-drop lawsuit by a retirement plan participant.
The U.S. District Court for the Southern District of New York has ruled that participants in two retirement plans sponsored by Citigroup failed to state a claim that Citigroup breached its fiduciary duties by offering stock as an investment option.
A federal judge in Los Angeles has preliminarily approved a $55-million settlement between Bank of America (BofA) and former employees of Countrywide Financial Corp.
With a recent decision ruling in favor of a Motorola employee, federal court judges continue refining their approach to handling benefits award cases involving a conflict of interest by a plan administrator.
A federal judge approved a $17-million settlement in a stock-drop case against UnitedHealth Group.
A New York-based law firm has launched two company stock fund investigations.
The 3rd U.S. Circuit Court of Appeals has ruled that a plan administrator did not abuse its discretion in denying a disability retirement benefit payment to an employee who died before his payment application was received.
A federal judge considering a series of lawsuits against the failed Washington Mutual (WaMu) told lawyers that she will likely decide on initial motions to dismiss the cases in mid-September.
The number of federal securities class action cases filed in the first six months of 2009 dropped by 22.3% over a year earlier, according to the latest data in an annual survey of the topic.