Courts/legal

Lawsuit dismissed against Kentucky Retirement Systems over alts investments

Courts

Courts

A lawsuit alleging Kentucky Retirement Systems illegally invested some participants' retirement assets in alternatives has been dismissed.
Baltimore County must reimburse workers who overpaid into pension fund, appeals court rules

COURTS

COURTS

Baltimore County must pay back employees who had to contribute to the county's pension fund at a higher rate than their younger co-workers.
BofA to pay $30 million to settle CFTC charges over U.S. Dollar ISDAFIX benchmark

Regulation

Regulation

Bank of America will pay $30 million to settle CFTC charges that the bank tried to manipulate the U.S. Dollar ISDAFIX benchmark.
NYU 403(b) participants appeal ERISA suit ruling in favor of the university

Courts

Courts

After losing an ERISA lawsuit against New York University alleging mismanagement of two of its 403(b) plans, the plaintiffs have appealed.
Citigroup settles SEC charges it misled institutional investors in dark pool trades

Regulation

Regulation

Citigroup agreed to pay nearly $13 million to settle charges that its Citigroup Global Markets subsidiary misled institutional users of its dark pool.
SEC letters on proxy advisers rescinded, to be discussed at roundtable

Washington

Washington

The SEC rescinded two staff letters on proxy advisers issued in 2004 that were aimed at assuring managers they could rely on the firms' advice.
Frontier Communications 401(k) plan participant sues over Verizon stock fund

Courts

Courts

Frontier Communications is the target of a lawsuit by a 401(k) participant alleging the company violated its fiduciary duty by offering a Verizon company stock fund.
Washington consultant, 2 Deerfied Management partners get prison in insider trading case

Courts

Courts

Two partners at Deerfield Management, Robert Olan and Theodore Huber, were among those sentenced to prison for insider trading.
Senator introduces bill to give long-term part-time workers access to retirement plans

Washington

Washington

Some part-time workers could gain access to workplace retirement plans under legislation introduced in the Senate.
Baltimore City Retirement executive director out after investigation finds misuse of funds

Defined Contribution

Defined Contribution

The Baltimore City Employees' Retirement System executive director is out after investigation finds misuse of funds for office renovations.
Highland Capital unit sued for allegedly using fund assets to rescue separate MLP offering

COURTS

COURTS

Highland Capital Management Fund Advisors is facing a class-action lawsuit for allegedly tapping one of its mutual funds to support a separate failing fund.
Abraaj fund unit that managed $14 billion is said to get $1 bid

Private Equity

Private Equity

Abraaj Group's fund unit received a bid from private equity firm Actis for $1.
Appeals court rules PBGC can target personal trust, successors to cover pension liabilities

Courts

Courts

An appeals court reversed a decision that opens the door for the PBGC to recoup more than $30 million from Findlay Industries.
European court rules U.K. PPF must pay out at least 50% of benefits to all participants

Courts

Courts

The Pension Protection Fund will have to pay each pension plan participant of insolvent sponsors at least 50% in benefits, an EU court ruled.
MFS settles with SEC over misleading marketing materials

Regulation

Regulation

MFS Investment Management will settle claims it distributed marketing materials for strategies that contained misleading and inaccurate information.