Court OKs $36M Settlement By Northern Trust In ERISA Suit
Law360, New York (August 10, 2015, 9:47 PM EDT) -- An Illinois federal judge signed off Friday on the allocation plan for a $36 million settlement involving allegations that Northern Trust Investments NA breached its duties to retirement plans and to a class of their participants and beneficiaries.
Northern Trust denies any liability as part of the deal — approved by U.S. Magistrate Judge Susan E. Cox — that settles claims that by imprudently investing collateral received from securities lending activities and charging high fees, it violated the Employee Retirement Income Security Act of 1974.
Judge Cox's approval came two days after she also signed off on an unopposed motion for...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!