X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
AP Photo/Mark Lennihan, File

A pair of middle-American pension funds have launched a lawsuit against BlackRock, claiming that the company had systematically “looted” the proceeds from money they had invested in the company’s iShares ETFs.

According to Reuters, the suit was filed on behalf of the Laborers’ Local 265 Pension Fund of Cincinatti and the Plumbers and Pipefitters Local No. 572 of Nashville, claiming that several of the iShares investments spent their money on “grossly excessive compensation” to agents associated with the ETFs.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

 

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2022 ALM Global, LLC. All Rights Reserved.