Tag: Participant Lawsuits

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: 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.

Bank Hit with Stock-Drop Charges

Montgomery, Alabama-based Colonial Bank, closed by authorities in August, has been hit with a stock-drop lawsuit by a retirement plan participant.

IMHO: The “Burden″ of Proof

Recently the 7th Circuit responded to requests that it reconsider its opinion in the revenue-sharing/″excessive fee″ case of Hecker v. Deere.

IMHO: The “Burden″ of Proof

Recently the 7th Circuit responded to requests that it reconsider its opinion in the revenue-sharing/″excessive fee″ case of Hecker v. Deere.

Anheuser-Busch Sued over QDIA Selection

Anheuser-Busch has been hit with a federal court lawsuit alleging the brewer and a trustee improperly designated an overly risky qualified default investment alternative (QDIA) for participants’ cash proceeds from a stock sale.

High Court Accepts Xerox ERISA Case for Review

U.S. Supreme Court justices have agreed to consider an appeal of a case involving the method used by the Xerox Corp. pension plan to figure out how much to offset a participant’s benefits to properly reflect distributions already taken.