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Thomas E. Perez v. City National Corporation et al
Case Number:
2:15-cv-03084
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December 03, 2019
City National Will Pay $6.3M In DOL's Self-Dealing ERISA Suit
A California federal judge has ordered City National Corp. to pay nearly $6.3 million after it was found to have violated ERISA's prohibition against self-dealing in a suit by the U.S. Department of Labor, lowering the court's initial $7.4 million judgment as the Ninth Circuit instructed.
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April 28, 2015
DOL Accuses City National Of Self-Dealing In ERISA Suit
The U.S. Department of Labor on Friday lobbed a suit against City National Corp. in California federal court alleging that the Los Angeles-based bank and several executives engaged in self-dealing and conflicted transactions involving assets for an employee benefits plan that resulted in $4 million in losses.