Settlement
In August 2015, the Court granted final approval to a class action settlement with Northern Trust Investments concerning allegations that Northern Trust breached its fiduciary duties to participants in ERISA plans when it imprudently structured and managed its securities lending program.
The settlement class consisted of all plans that were governed by ERISA and participated in indirect securities lending through funds they were invested in during the Settlement Class Period of January 1, 2007 - October 31, 2010, and are alleged to have been damaged as a result of their funds’ participation in the securities lending program.
