Securities lending involves lending
securities owned directly or indirectly by retirement
plans.
Berger & Montague's ERISA & Employee Benefits 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
ERISA & Employee Benefits 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 info@bm.net, or contact an
ERISA & Employee Benefits Group shareholder. We are
available to evaluate potential ERISA and employee
benefits cases without charge.