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Teamsters Fund Sues AllianzGI For Hedge Fund Losses
Scott+Scott filed suit on behalf of Participants in the Teamster Members Retirement Plan against Allianz Global Investors and its subsidiaries, saying investors in a hedge fund it managed lost nearly $1 billion.
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Allianz Investment Arm Sued Over $1B Loss From Virus Crash
Scott+Scott filed suit on behalf of a Teamsters Union retirement plan against AllianzGI alleging it abandoned its risk controls and meaningful downside hedging strategies for a fund purportedly designed to weather extreme market volatility.
Read More Scott+Scott Announces Class Action Suit on Behalf of R-CALF USA
Scott+Scott files a class action lawsuit in federal district court in Chicago alleging the nation’s four largest beef packers violated US antitrust laws by unlawfully depressing the prices paid to American ranchers.
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Scott+Scott responds to Sherman Joyce’s Law360 guest article, “Gov’t Opioid Suits Hide Attorney’s Personal Interests.”
New York’s banking regulator said Tuesday that Standard Chartered Bank will pay $40 million to resolve claims that it participated in a scheme to rig foreign exchange benchmark rates.
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Banks Accused Of Rigging Libor After Post-Scandal Overhaul
Putnam Bank accuses the owner of the New York Stock Exchange of conspiring with some of the world’s largest banks to artificially deflate a key financial benchmark.
Read More US Fines HSBC $175m Over ‘unsound’ FX Trading
HSBC has been fined $175 million by the US Federal Reserve for failing to stop its traders from misusing confidential customer information and for telling competitors about their own trading positions.
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Standard Chartered is among five banks paying $111m over foreign-exchange rigging
Standard Chartered is among five banks that have collectively agreed to settle American legal claims relating to rigging prices in the $5 trillion-a-day foreign exchange market.
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Banks settle currency manipulation claims for $111m
Five more banks have agreed to settle claims that they manipulated currency markets, as the foreign exchange scandal continues to haunt the financial industry.
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UBS, HSBC Pen $28M Settlement In Swaps-Rate Class Action
Banking giants agree to pay $14 million to settle class action claims that they participated in a conspiracy with other banks to manipulate a benchmark interest rate used to set terms for swaps transactions.
Read More Seven Banks to Pay $324 Million to Resolve ISDAfix Claims
Seven banks have agreed to pay $324 million to settle claims they conspired to rig the ISDAfix benchmark, which is used in the sale of interest-rate derivatives and other financial instruments.
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