State Street Corp. Is Sued Over Pension Fund Losses
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State Street ousted a senior executive and said it would set aside $618 million to cover legal claims stemming from investments tied to mortgage securities.
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The Securities and Exchange Commission filed a lawsuit on Wednesday against the brokerage firm JB Oxford Holdings and its National Clearing Corporation unit, accusing them of improper mutual fund trading.
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State Street Corp  said on Thursday it will take a $279 million fourth-quarter charge for legal and other costs after making bad bets on subprime mortgages and other debt, and said its investment management chief has resigned.
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Fidelity Investments is being sued by  workers at Deere & Co.  who claim the world's largest  mutual fund company charged them "unreasonable" fees and  expenses to manage their retirement savings.
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California filed a lawsuit Monday accusing the brokerage house Edward D. Jones &amp; Co. of accepting $300 million in improper payments to push its clients toward certain mutual funds.
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The Supreme Court ruled Wednesday that individual participants in the most common type of retirement plan can sue under a pension protection law to recover their losses.
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WASHINGTON, Dec. 12 (Dow Jones/AP) â Federal regulators sued a hedge fund manager in Dallas on Tuesday, accusing him of making more than $6.5 million through illegal trading involving ânakedâ short sales of dozens of companies.
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Institutional money manager State  Street Corp  faces $22 billion exposure to asset-backed  commercial paper conduits, the off-balance sheet vehicles that  have caused problems for rivals in recent weeks, British  newspaper The Times reported.
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The state of California sued brokerage Edward D. Jones & Co. on Monday over improper marketing of mutual funds, and criticized a &#36;75 million settlement deal between the company and other regulators.
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Raymond James Financial Inc., a brokerage with 2,200 offices that&#39;s based in St. Petersburg, Fla., and the company&#39;s former president were sued by the Securities and Exchange
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LOS ANGELES - A lawsuit filed against Countrywide Financial Corp. on behalf of its employees claims the mortgage lender failed to warn them about the depth of its financial troubles, resulting in heavy stock losses in their 401(k) retirement accounts.
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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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Giant US electronics retailer Best Buy has been sued by the State of Ohio over alleged unfair and deceptive business practices.
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State Street ousted a senior executive on Thursday and said it would set aside $618 million to cover legal claims stemming from investments tied to mortgage securities.
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A lawsuit is filed on behalf of bummed-out New York customers.
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An investor lawsuit has been filed against Merrill Lynch & Co  contending that the company issued false and misleading statements regarding its exposure to risky mortgage investments, plaintiffs' lawyers said on Tuesday.
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The Securities and Exchange Commission has sued JB Oxford Holdings Inc., a small brokerage and clearing company, and three of its executives for allegedly helping customers from as far away as Switzerland improperly trade fund shares.