Results for "lawsuits"

Displaying 712 results

Sort: Date | Relevance

Author:

Waddell & Reed latest active fund manager sued for 401(k) self-dealing

June 28, 2017

Waddell & Reed Financial Inc., which sponsors the Waddell & Reed and Ivy-branded investment funds, has been sued for self-dealing in its own 401(k) plan, joining a string of other asset managers to have been targeted recently for similar allegations....

Supreme Court to consider role of Dodd-Frank provision in corporate whistle-blower case

June 26, 2017

The U.S. Supreme Court agreed to consider the reach of an anti-retaliation provision in the 2010 Dodd-Frank financial law in a case that could insulate publicly traded companies from some whistle-blower lawsuits. The justices will hear an appeal...

Voya's win in 401(k) fee suit involving Financial Engines bodes well for other record keepers

June 22, 2017

The dismissal of a lawsuit against Voya Financial Inc. for its relationship with 401(k) robo-adviser Financial Engines could be a harbinger of success for other major retirement-plan record keepers locked in similar legal battles. Judge Lorna...

Brian Block trial witness says Nicholas Schorsch had hand in cooking the books at ARCP

June 20, 2017

A key witness in the trial of Brian Block, the former chief financial officer of a giant real estate investment trust once controlled by Nicholas Schorsch, suggested Monday that Mr. Schorsch had a hand in cooking the company's books by directing...

Putnam, Fidelity win respective 401(k) lawsuits

June 20, 2017

Putnam Investments and Fidelity Investments have prevailed in separate legal fights centering on their fiduciary duty to retirement plans, at a time when financial services companies are increasingly being targeted for 401(k) self-dealing. A...

Accounting at ARCP center of fraud charges against Brian Block

June 15, 2017

A former high-ranking executive at American Realty Capital Properties Inc. testified on Tuesday afternoon and Wednesday that in emails and meetings in 2014 he repeatedly raised the warning of an accounting mistake in the real estate investment...

Capital Group, the sponsor of American Funds, sued for self-dealing in its 401(k) plan

June 15, 2017

The recent lawsuit lodged against The Capital Group Companies Inc. for alleged self-dealing in the company's 401(k) plan is one of several similar legal battles being waged with large asset managers, and could prove difficult for plaintiffs...

Trial begins for former CFO of ARCP, Brian Block

June 14, 2017

Did Brian Block, former chief financial officer of a giant real estate investment trust once controlled by Nicholas Schorsch, cook the books in 2014 as he faced pressure to hit financial goals for the company? Or, rather, did Mr. Block act in...

Northrop Grumman settles fiduciary breach lawsuit with DC plan participants

June 12, 2017

Northrop Grumman and participants in two company 401(k) plans have agreed to a $16.75 million settlement over allegations that plan executives violated their fiduciary duties under ERISA. Participants sued two Northrop Grumman plans in September...

Wells Fargo, in 'atypical' outcome, wins 401(k) lawsuit

May 30, 2017

Wells Fargo & Co. has prevailed in a lawsuit alleging the firm breached its fiduciary duty to the company 401(k) plan by offering proprietary target-date funds. Minnesota district court judge David S. Doty granted Wells Fargo's motion to dismiss,...

SEC in-house judges challenged in DC appeals court that upheld them

May 25, 2017

The first appellate court to uphold Securities and Exchange Commission in-house courts on constitutional grounds revisited the issue Wednesday before a 10-judge panel of the U.S. Court of Appeals for the District of Columbia. The appeals court...

Millions go to Madoff fund lawyer, nothing for investors

May 23, 2017

A firm hired by the U.S. to distribute $4 billion to victims of Bernard Madoff's Ponzi scheme has racked up $38.8 million in billings over four years. The investors are still waiting for their first checks, though. The Justice Department disclosed...

How 401(k) advisers can bullet-proof themselves against litigation risk under DOL fiduciary rule

May 20, 2017

Many advisers who service 401(k) plans will, for the first time, be considered fiduciaries with respect to their investment advice when the Labor Department's conflict-of-interest rule comes into force next month. Along with that heightened...

Use of multiple record keepers could hurt defendants in 403(b) lawsuits

May 19, 2017

Judges in lawsuits targeting the Duke University and Emory University retirement plans have given life to a novel claim against the universities' use of multiple record keepers, setting the stage for a potential legal blow to a common practice...

Courts' interpretations of 401(k) fiduciary laws are changing

May 16, 2017

It appears that laws of fiduciary prudence under ERISA are evolving. A recent district court decision, in Lorenz v. Safeway, demonstrates this point. "What is good for the goose is good for the gander" is not a common legal maxim, but the District...

TIAA to pay $5M in 401(k) excessive-fee suit

May 12, 2017

TIAA agreed to pay $5 million to settle a lawsuit alleging the firm breached its fiduciary responsibilities in two retirement plans it provides to its employees. Plaintiffs brought the suit against TIAA in October 2015, claiming their plans...

Independent broker-dealer Triad Advisors sues former advisers

May 7, 2017

In a highly unusual move by an independent broker-dealer, Triad Advisors Inc. is suing a group of former advisers who left the firm to start their own broker-dealer. Last October, Triad sued the advisers, David Millican, Jeffrey Shaver and Joseph...

Court enters judgment against Connecticut adviser for Ponzi scheme

May 2, 2017

A federal court in Connecticut has entered a judgment against adviser Mark J. Varacchi and his firm, Sentinel Growth Fund Management, for allegedly stealing $3.95 million of investor assets in a hedge fund Ponzi scheme. The court also entered...

Judge declines to dismiss indictment against former ARCP CFO Brian Block

May 1, 2017

A federal judge on Friday declined to dismiss an indictment alleging that Brian Block, the former chief financial officer of American Realty Capital Properties Inc., or ARCP, participated in a fraudulent scheme to inflate the company's financial...

Raymond James settles Vermont ski resort claims for $150 million

April 14, 2017

Raymond James Financial Inc. has reached a $150 million settlement in a lawsuit that involved financing of the failed Jay Peak ski resort and related real estate development in Vermont. The suit centered on an alleged fraudulent EB-5 investment...

« Previous PageNext Page »

1 | 2 | 3 | 4 | 5 | 6 | 7 ... 36