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Home>Michael Burnett

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So far Michael Burnett has created 55 blog entries.

Teamsters Fund Sues AllianzGI For Hedge Fund Losses

Pensions&Investments By James Comtois September 04, 2020 Participants in the Teamster Members Retirement Plan filed suit against Allianz Global Investors and its subsidiaries saying investors in a hedge fund it managed lost nearly $1 billion. Teamster Members Retirement Plan (formerly known as GCIU Inter-Local Pension Plan) was an investor in AllianzGI's Structured Alpha U.S. Equity [...]

2020-09-11T16:44:34-04:00September 4th, 2020|0 Comments

Allianz Investment Arm Sued Over $1B Loss From Virus Crash

Law360 By Dean Seal (September 3, 2020, 5:06 PM EDT) -- Investors in a hedge fund that lost nearly $1 billion during the coronavirus-induced market crash earlier this year say "extreme risk taking" by fund manager Allianz Global Investors caused the fund to collapse in a proposed class action in New York federal court. A [...]

2020-09-11T18:49:14-04:00September 3rd, 2020|0 Comments

SHIPWRECK Millions of UK drivers could receive compensation after shipping company scam saw new car prices rise

THE SUN, MILLIONS of Brits have been ripped off by a shipping company scam which inflated the price of new cars. Drivers who bought or leased a new motor between October 2006 and September 2015 could receive a payout, after five shipping companies fixed their charges for bringing models into the UK. The firms - [...]

2020-03-02T12:34:06-05:00March 2nd, 2020|0 Comments

Class action could mean refund of £60 per new car

DEALERSHIPS could be in line for a refund of up to £60 per new car that they bought, thanks to a class action against five major shipping companies. Car Dealer Magazine, It follows a multi-million-euro fine by the European Commission after MOL, ‘K’ Line, NYK, WWL/EUKOR and CSAV were found to have violated EU competition [...]

2020-03-02T12:28:24-05:00March 2nd, 2020|0 Comments

Car Shipping Cartel Faces £150M Class Action

Law360, London (March 2, 2020, 2:51 PM GMT) -- Five shipping companies fined for running a cartel for transporting cars to the U.K. have become the target of a £150 million ($189 million) million U.S.-style class action in London led by law firm Scott+Scott UK LLP. The claim has been filed at the U.K. Competition [...]

2020-03-02T12:20:57-05:00March 2nd, 2020|0 Comments

Millions of British motorists are ripped off in £150million scam inflating the price of new cars after shipping firms conspired to fix delivery costs

The Daily Mail - Millions of motorists have been ripped off in a £150million delivery scheme to inflate the price of new cars, it is claimed. Eight in ten new cars have seen price increases of up to £60 after shipping firms conspired to fix delivery costs, according to a lawsuit. A total of 17million [...]

2020-02-29T09:34:01-05:00February 29th, 2020|0 Comments

Credit Suisse Hit With Costs In Ex-Director’s Suit

Law360, London (February 18, 2020, 8:55 PM GMT) -- A judge ordered Credit Suisse to pay some of a former employee's costs on Tuesday after he largely fended off a bid to pare down his £46 million ($60 million) lawsuit over his imprisonment in Romania on espionage charges while working for the lender. In his [...]

2020-02-18T17:48:07-05:00February 18th, 2020|0 Comments

Class Action Comes To UK With Major Forex Rigging Suit

Law360, London (November 5, 2019, 3:28 PM GMT) -- A consumer antitrust suit brought by investors seeking at least £1 billion ($1.3 billion) from five banking giants, including JPMorgan and Barclays, over allegations of foreign exchange rigging is set to be heard at a London tribunal on Wednesday in a test case for US-style class [...]

2020-02-17T16:44:08-05:00November 5th, 2019|0 Comments

Gulf Utility Providers File Damages Suits Against Prysmian, Others Over Power-cable Cartel

MLex - In Brief : ​State utility companies in Bahrain, Saudi Arabia, Kuwait and Oman have filed damages claims against power-cable producers over their involvement in a multiyear global cartel, MLex has learned. The antitrust suits, filed in the Netherlands, list 15 target companies, including Prysmian and ABB, and the claimants seek losses from cable [...]

2020-02-17T16:45:38-05:00October 24th, 2019|0 Comments

The currency-trading scandal continues to dog the banks

The Economist, The CAT and the (alleged) fiddle  Banks are in the frame for Britain’s latest collective-action claim THE LAUGHING stopped long ago. Between 2007 and 2013, in online chatrooms called “Three Way Banana Split”, “Essex Express ’n the Jimmy” and other rib-ticklers, currency traders yapped about all sorts of things—including market tactics. The banter [...]

2020-02-17T16:50:16-05:00August 2nd, 2019|0 Comments
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