Suits Contend Mutual Funds Fail to Collect in Settlements
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A barrage of lawsuits has been filed against mutual funds, contending that they did not claim money due their investors from settlements of securities class-action lawsuits.
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An investor lawsuit has been filed  against Merrill Lynch & Co Inc , contending that the  company issued false and misleading statements about its  exposure to risky mortgage investments, the plaintiffs' lawyers  said on Tuesday.
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The trustee firm representing employee pension funds at United Airlines sought a court order today that the carrier be required to make up hundreds of millions of dollars
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New York Attorney General Eliot  Spitzer, who is suing insurance broker Marsh & McLennan Cos.  MMC.N on fraud and bid-rigging charges, said on Thursday  negotiations with the company have just begun and no settlement  value has yet been discussed.
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The Securities and Exchange Commission is finding troubling indications that mutual-fund companies and other money managers paid retirement-plan consultants to be recommended to the consultants&#39; clients, people familiar with the probe told The Wall Street
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Stubbornly high bond yields discouraged investors from extending Wall Streetâs recovery from last weekâs losses.
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AS construction firms battle paucity of funds, due to nonpayment by their clients, for jobs done, workers in the sector have made a case for timely settlement of contract money especially by government.
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The triumphal march of stock index mutual funds has missed a step or two lately.
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Mutual fund companies have felt the pain of fines since New York Attorney General Eliot Spitzer uncovered the trading scandal one year ago Friday. But investors have administered the harshest punishment.
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The U.S. Court of Federal Claims issued a ruling in a tax refund case that the transactions under question were a tax avoidance mechanism, and not an investment strategy.
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Banks breathe sigh of relief A lawsuit aiming to hold Wall Street banks accountable for alleged manipulation of technology stock prices in the dotcom boom has failed to win class action status. The ruling could save the banks billions of dollars in payouts.â¦
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Resisting the temptations of the mutual-fund performance chase isn't as easy as it may look.
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Some banks expected to contribute to a fund to bail out troubled securitized investment vehicles (SIVs) are losing interest as they doubt the fund's ability to provide a solution to the credit crunch, the Wall Street Journal reported on Wednesday.
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Three companies that manage and market Pimco stock mutual funds have agreed to pay a total $20.6 million to settle allegations that they failed to disclose their use of fund assets to pay brokerages for steering customers to the funds.
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NEW ORLEANS, Feb. 5 (Bloomberg News) â Two investment banks, Merrill Lynch and Credit Suisse, asked a federal appeals court yesterday to end a class-action lawsuit by Enron investors seeking $40 billion that they lost when the energy trader collapsed in 2001.
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A federal appeals court ordered a lower court yesterday to reconsider whether a lawsuit against underwriters including Citigroup and Morgan Stanley can proceed as a class action.
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U.S. securities regulators may file  suit against Morningstar Inc., a provider of mutual fund and  stock research, over incorrect data it published about a mutual  fund, the company said on Friday.