Pension Fund's Claims Against Allianz Dismissed

Law360, New York (July 27, 2007, 12:00 AM EDT) -- A federal judge on Thursday dismissed claims brought against Allianz AG in an ERISA suit alleging that an Allianz subsidiary breached its fiduciary duty in the management of a union pension funds’ assets.

Judge Gladys Kessler of the U.S. District Court for the District of Columbia granted Allianz’s motion to dismiss claims brought against it by trustees of the Electrical Workers Local No. 26 Pension Fund for lack of subject matter jurisdiction. The union’s claims against Nicholas Applegate Capital Management LLC, a unit of Allianz, and...
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