Callan Settles With Retirees, Resolving Allianz Pension Loss Row

Retirees claiming their pension plans lost millions of dollars after the collapse of Allianz SE’s Structured Alpha funds settled with investment adviser Callan LLC after previously announcing a deal with plan trustees.

The proposed deal, announced Wednesday in the US District Court for the Western District of Washington, resolves claims against the case’s last remaining defendant after the Carpenters of Western Washington Board of Trustees agreed to a settlement earlier this month. Neither of the settlements’ terms are publicly available at this time, and the retirees say they plan to file their agreement with Callan for court approval by July ...