Blue Cross Blue Shield Association National Employee Benefits Committee v. Allianz Global Investors U.S. LLC et al

  1. October 04, 2022

    3 BCBS Companies Drop Push For DOL Transaction Waivers

    The U.S. Department of Labor on Tuesday withdrew proposed transaction exemptions that would have allowed three companies affiliated with the Blue Cross Blue Shield Association to use settlement proceeds to cover payments made to employee retirement plans that experienced steep losses tied to stock market volatility at the start of the pandemic.

  2. August 23, 2022

    DOL Proposes Transaction Waivers Tied To Allianz Losses

    The U.S. Department of Labor on Tuesday proposed transaction exemptions covering about $600 million in payments made by companies affiliated with Blue Cross Blue Shield to employee retirement plans after a benefits trust incurred steep losses following stock market volatility at the start of the pandemic.

  3. May 27, 2021

    JPML Weighs Mixing Allianz Suits In NY With Sole Calif. Action

    The Judicial Panel on Multidistrict Litigation seemed skeptical Thursday when the plaintiff in a California federal court suit against Allianz Global Investors sought a consolidation with more than a dozen similar suits in New York's Southern District.

  4. September 16, 2020

    Allianz's Bad Bets Were 'Ticking Time Bomb,' $2B Suit Claims

    A Blue Cross Blue Shield employee benefits committee sued Allianz in New York federal court Wednesday, claiming the investment firm falsely touted a low-risk strategy when in reality it made bad bets that were a "ticking time bomb" and cost investors $2 billion during coronavirus-related market volatility.

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