A judge’s recent decision favoring AXA Equitable Life Insurance Co. in a lawsuit over excessive mutual fund fees in variable annuities was a win of sorts for insurance companies, in that it upholds a traditional structure of offering investment options. At issue in the lawsuit, Sivolella v. AXA Equitable Life Insurance Co. et al, is whether the insurer and an RIA subsidiary, which act as …
The Morris County freeholders have started doling out historic trust fund grants to religious institutions, despite a lawsuit to stop the awards, a report says. The governing body last week approved grants for 12 applicants, including four religious groups, The Record reported. A total of 32 organizations will get a share of this funding cycle’s $2.7 million in grants, the report …
The notorious Animal and Zoological Park in Wellsboro, Pennsylvania has closed in response to the March 2016 lawsuit filed by nonprofit Animal Legal Defense Fund, the nation’s preeminent legal advocacy organization for animals, with pro bono assistance from Partner John W. Caldwell and Associate Brian L. Saunders, members of the Intellectual Property Group of the law firm BakerHostetler in Philadelphia. The group filed the suit on behalf of concerned local residents against …
Morgan Stanley faces $1.5 billion lawsuit for mismanagement of employee retirement funds Submitted by Valerie Rogers on Sat, 08/20/2016 – 08:32 Morgan Stanley’s 401 (k) plan participants have filed a lawsuit claiming that the financial services major mismanaged the funds. The lawsuit claims that nearly 60,000 participants in Morgan Stanley’s fund faced significant financial loss as the fund …
Unless you are a named defendant in the settled litigation or one of their affiliates, as that term is defined in the Stipulation and Agreement of Compromise and Settlement dated July 14, 2016 (the “Stipulation”), or you exclude yourself from the Settlement, you are a member of the Class if you held AuthenTec common stock any time between and including July 27, 2012 and October 4, 2012. What …
Sir Philip Green is trying to end the threat of legal action against him over the sale of BHS by writing a cheque for more than £300 million that would help to plug a hole in the company’s pension fund. Representatives of the tycoon and the pensions regulator are holding talks on the future of the BHS fund, which is estimated to have a deficit of about £700 million. Yesterday the 22 remaining …
Morgan Stanley was hit with a class action Friday, filed on behalf of 60,000 workers. The suit claims that the company mismanaged its own employees’ retirement plans by offering poorly performing funds and charging excessive fees.
Today the District Court will hear oral arguments in a lawsuit by the Animal Legal Defense Fund—the nation’s leading legal advocacy organization for animals, concerned consumers, and a coalition of animal …
With some of the universities named in the lawsuits holding more than 400 fund options managed by five or more record keepers, universities will have a difficult time wading through details of each fund to determine if and how they could have noticed trends of investment underperformance. But with higher education at large struggling to maintain endowment gains, and …
In this May 4, 2016 file photo, North Carolina Gov. Pat McCrory make remarks concerning House Bill 2 while speaking during a government affairs conference in Raleigh, N.C. McCrory has taken a beating from critics over a law dictating which restrooms transgender people can use, highlighting what they call the economic harm and reputation its causing North Carolina. McCrory is retrying to …