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$4.25M deal ends litigation vs Northern Trust over 'hundreds of millions' in losses for public pensions

Jonathan Bilyk Jan. 12, 2017, 11:21pm

A Chicago federal judge has signed off on a $4.25 million settlement to end years of litigation between financial investment firm Northern Trust Co. and a host of public worker retirement plans in Chicago and elsewhere in the U.S. over claims Northern Trust’s allegedly risky investment decisions had led to hundreds of millions of dollars in losses for the retirement programs when markets crashed at the onset of the Great Recession.

Lawsuit: Northern Trust should pay class action settlement for falsely certifying client's ability to pay

Scott Holland Nov. 18, 2016, 5:17pm

Two law firms seeking money owed by a real estate  management company following a class action complaint are chasing the $845,000 settlement in Cook County Circuit Court, demanding Northern Trust Company be held liable for the sum for allegedly providing a letter purportedly verifying the real estate management group had the required cash on hand, when it actually did not.