January 11, 2017
An Illinois federal judge on Wednesday approved a $4.2 million settlement of a class action brought by retirement funds against Northern Trust Co., closing the door on nearly eight years of litigation over the company's investment of fund money in Lehman Brothers Holdings Inc. and CIT Group Inc. shares.
July 13, 2016
Northern Trust Co. announced Wednesday it has reached a settlement in a class action that claims it negligently breached securities lending contracts by steering clients including two Pontiac, Mich., retirement funds toward risky assets such as Lehman Brothers Holdings Inc. and CIT Group Inc. shares.
December 22, 2015
A Chicago federal judge on Monday certified a class including two Pontiac, Michigan, retirement funds that claim Northern Trust Co. negligently breached securities-lending contracts by steering them toward risky assets including Lehman Brothers Holdings Inc. and CIT Group Inc. shares and failing to divest as markets collapsed.