US - The US$89bn New York City Employees' Retirement System (NYCERS) has been appointed lead plaintiff in the securities class action against Apple.
The case - which names company board members Steve Jobs and Al Gore - alleges Apple set aside stock worth "in excess of $4.4bn" over the past several years to be reserved for options issuance and other employee compensation.
NYCERS currently holds around one million shares in Apple worth $90m, and will be represented in the case by corporate governance law firm Grant & Eisenhofer.
The firm said in a release shareholders were "seeking cancellation of all illegally issued options by Apple and would assert large-scale dilution of their holdings as a result of the way that Apple failed to disclose its options set-asides in its proxy materials".
The firm added it would file a consolidated complaint "in the coming weeks" outlining shareholder claims against Apple.
The case is proceeding in US district court for the northern district of California under Judge Jeremy Fogel.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.