Allianz Fund Collapse Suit Against Pension Board Gets Revived

A pension fund board that previously sued Allianz Global Investors US LLC over the collapse of its Structured Alpha funds must face revived litigation by plan participants who say they were harmed by the ordeal.

The pension plan participants have standing to sue because they alleged they’d have more money in their retirement accounts if the defendants hadn’t made the challenged investments, the US Court of Appeals for the Ninth Circuit said Tuesday in an unpublished opinion. That’s true even though both parties agree the retirement plans have gone up in value because “absolute loss” isn’t a requirement for ...