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SETTLEMENT INFORMATION

Louisiana Firefighters' Retirement System v. Northern Trust

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The Settlement 

 

$24,000,000

 

The Case

 

In this Class Action, Plaintiffs, represented by SWCKW and co-counsel allege, among other things, that Defendants improperly invested collateral received to secure the loan of securities from the Commingled Lending Funds and/or collateral received to secure the loan of securities from the portfolios of clients that participated directly in Northern Trustís securities lending program, and that Defendants had charged and collected impermissibly high securities lending fees from the Commingled Lending Funds. Plaintiffs allege that Defendantsí alleged conduct gave rise to claims for breach of fiduciary duty, breach of contract, and breach of duty of good faith and fair dealing. 

For more information about this settlement, click here.


 
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