August 23, 2013
Principal Financial Group Inc. has agreed to pay $3.2 million to settle a class action alleging that the company let its retirement account holders unwittingly invest in an alleged Ponzi scheme run by Westgate Management LLC , the plaintiffs said in documents filed in New York federal court Thursday.
August 31, 2011
A New York federal judge again refused on Tuesday to dismiss a class action alleging Principal Financial Group Inc. breached its fiduciary duty to retirement account holders by letting them unwittingly invest in a Ponzi scheme run by Westgate Mangement LLC.
May 27, 2011
A New York federal judge on Thursday allowed to continue a class action alleging Principal Financial Group Inc. breached its fiduciary duty to retirement account holders by letting them unwittingly invest in a Ponzi scheme run by Westgate Capital Management LLC.