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 investors and retirement plans when it imprudently structured and managed its securities lending program.
The settlement class consisted of all entities not governed by ERISA that had participated in Northern Trust’s securities lending program through indirect securities lending during the class period of January 1, 2007 - October 31, 2010, and are alleged to have been damaged as a result.
