TITLE

Plans sue to recover subprime investment losses

AUTHOR(S)
BUCKMANN, CAROL I.; E. B. N.
PUB. DATE
September 2008
SOURCE
Employee Benefit News;Sep2008, Vol. 22 Issue 11, p51
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article talks about the lawsuits filed in federal district court in the U.S. by a number of pension and 401(k) plans with assets invested in subprime mortgage obligations. In their lawsuits against Bear Stearns, Countrywide, State Street Bank and other plan sponsors, pensions and plans cite a provision of ERISA that holds fiduciaries liable for losses resulting from a breach of fiduciary responsibilities. A discussion of the class of lawsuits filed against subprime mortgage lenders is presented.
ACCESSION #
34234522

 

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