US - Five pension funds have filed an amended complaint against Bank of America (BofA) alleging the firm mislead investors in the lead-up to the bank's acquisition of Merrill Lynch.
The complaint alleges that BofA agreed to allow Merrill to dole out some $5.8bn in bonuses, but declined to tell shareholders of the deal. It also claims senior executives at both firms also failed to...
US - The California Public Employees' Retirement System (CalPERS) is in search of a manager to provide index fund products for six of its trust funds.
US - Telecommunications companies AT&T and Verizon Communications could face increased pension payments next year as their liabilities soar to a combined $73.2bn, according to an analyst note from Bernstein Research, a unit of AllianceBernstein.
US - Rupert Murdoch and other News Corporation directors face opposition from corporate governance advisory firm ISS which advised shareholders to vote against their re-elections to the board.
The aggregate deficit of S&P 1500 pension plans increased by $134bn in September, reaching a "post-World War II high", Mercer claims.
US - Acadian Asset Management has named Ronald Frashure chairman and Churchill Franklin, chief executive, after a restructure of the firm's top ranks.