Courts/legal

Kraft Heinz DC participants file suit over company stock decline

Courts

Courts

A class-action lawsuit was filed on behalf of Kraft Heinz Food Co. DC plan participants over a decline in the price of company stock.
Fidelity faces another lawsuit over 401(k) fees

Courts

Courts

Fidelity has been hit with another suit claiming the firm secretly charged mutual fund companies a fee to have their funds on its platform.
U.S. Supreme Court declines to hear San Diego retirement plan case

COURTS

COURTS

The U.S. Supreme Court declined to accept a case regarding a San Diego ballot measure that replaced city's DB plan with a DC plan.
Institutional investors sue Danske Bank after money laundering, cover-up investigations

COURTS

COURTS

A group of institutional investors filed a lawsuit against Danske Bank, accusing the firm of money laundering and a subsequent cover-up.
Public pension benefit suits being watched nationwide

COURTS

COURTS

All eyes are on the California Supreme Court as it works through cases that could determine whether the California rule will stand.
TPG terminates executive following fraud charge in college admissions scandal

PRIVATE EQUITY

PRIVATE EQUITY

William McGlashan Jr., co-founder and CEO of TPG's The Rise Fund and founder and managing partner of TPG Growth, has been fired "for cause."
Money management executives among those implicated in college admissions scam

Money Management

Money Management

Among the dozens charged by the Justice Department in a college admissions scam were several high-profile executives in money management.
Brown University settles 403(b) fiduciary class-action suit for $3.5 million

Courts

Courts

Brown University settled a class-action suit alleging the university's 403(b) plans' managers breached their fiduciary duties under ERISA.
Venture capital CEO, former PIMCO CEO among those charged in vast college-admissions plot

Courts

Courts

A former PIMCO CEO and a venture capital CEO were among dozens charged in a broad criminal conspiracy to get applicants into elite schools.
Texas Supreme Court affirms ruling that DROP changes at pension fund are constitutional

Courts

Courts

Texas Supreme Court affirmed a state appeals court ruling that changes to DROP at Dallas Police & Fire Pension System were constitutional.
South Africa's PIC skirted rules by merging roles, probe hears

Pension Funds

Pension Funds

South Africa's PIC breached the money manager's own memorandum of incorporation when CIO and CEO posts were combined under Dan Matjila.
Group of investors files lawsuit against Tesla over Elon Musk's tweets

COURTS

COURTS

An investors group has sued Tesla and CEO Elon Musk for allegedly violating their fiduciary duty based on Mr. Musk's tweets.
Wells Fargo settles charges of improper sales practices

Courts

Courts

Wells Fargo has agreed to settle allegations of improper sales practices leveled against several current and former senior executives.
Appeals court rejects Disney 401(k) participants' fiduciary breach complaint

COURTS

COURTS

A federal appeals court rejected a complaint by participants in a Walt Disney Co. 401(k) plan that fiduciaries violated their duties.
California's high court rules narrowly on first of several pension benefit cases

Courts

Courts

A state Supreme Court ruling kept the elimination of additional service time credit.