US - The Police and Fire Retirement System of the City of Detroit has filed a class action lawsuit against clothes manufacturer Gildan Activewear.
As a result of this misinformation, the company's stock price was artificially inflated between 2 August 2007 and 29 April 2008, the retirement system alleged.
Pension funds which invested in the same period wishing to take lead plaintiff status in the case should apply to the US District Court for the Southern District of New York by 1 August 2008.
Scott & Scott have been appointed as counsel to the Detroit pension fund.
Gildan Activewear was contacted, but had not responded at the time of going to press.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers