Law
North America
US - A class action lawsuit has been filed against Sterling Savings Bank on behalf of staff seeking compensation over the firm's alleged failure to protect pension investments in company stock.
12 January 2010
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Defined Benefit
BSS is suing Aon Consulting over claims it overestimated the firm's defined benefit scheme net deficit by almost £17m.
12 January 2010
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Law
Introducing collective defined contribution schemes would not breach European law despite the government citing it as a reason to abandon risk sharing, a lawyer says.
07 January 2010
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US
US/NETHERLANDS - Dutch pension fund Stichting Pensioenfonds British American Tobacco (Pension Fund BAT) is suing State Street Bank & Trust for losses in a long/short fund run by State Street Global Advisors.
18 December 2009
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US
US/ISRAEL - Telecommunication software provider Comverse Technology will pay US$225m to a group of investors, including at least one pension fund, in what is said to be the largest settlement involving an Israeli institution serving as lead plaintiff....
18 December 2009
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Investment
US/UNITED ARAB EMIRATES - The Abu Dhabi Investment Authority (ADIA) said it plans to fully "pursue its legal rights" as it looks to pull out of its 2007 investment in Citigroup or receive US$4bn in compensation.
17 December 2009
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US
US - A pension fund is suing Goldman Sachs alleging officials and the board breached their fiduciary duties by allowing an expected US$22bn in 2009 bonuses.
15 December 2009
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Law
IRELAND - A construction company has pleaded guilty to deducting pension contributions from its workers but failing to deposit the funds into the Construction Workers Pension Scheme (CWPS).
15 December 2009
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Law
US/UK - A US law firm is advising European pension funds and institutional investors to opt out of the US class action against Royal Bank of Scotland and to seek damages in the UK.
14 December 2009
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