Securities Lending Class Actions
Securities lending involves lending securities owned directly or indirectly by retirement plans.
Berger Montague’s Employee Benefits & ERISA Group is currently litigating several class action cases on behalf of retirement plans that have incurred substantial losses as a result of imprudent securities lending practices. Specifically, we serve as co-lead counsel on behalf of 401(k) and pension plan participants and beneficiaries whose plans have suffered as a result of improper practices with respect to securities lending. The borrowers, who often are short sellers, pay collateral, which custodians invest. On behalf of its clients, Berger Montague has brought lawsuits against two of these custodians, State Street and Northern Trust, alleging imprudent investment practices and excessive fees in connection with their securities lending activities.
No Fees Without Recovery
Berger Montague ERISA and employee benefits cases are often litigated on a contingent fee basis, so plaintiffs and the class do not pay attorneys’ fees or court costs unless there is a recovery.
Contact Us to Learn More
We invite you to learn more about our Employee Benefits & ERISA Group. Berger Montague welcomes referrals from other law firms and attorneys. For more information or to schedule a confidential discussion about a potential case, please fill out the contact form on the right, email us at [email protected], or contact an Employee Benefits & ERISA Group attorney. We are available to evaluate potential ERISA and employee benefits cases without charge.