Pension Board, Retirees Agree to Class Status Over Allianz Wreck

A pension fund board that previously sued Allianz Global Investors US LLC over the collapse of its Structured Alpha funds agreed to have a lawsuit by plan participants certified as a class action.

The two proposed classes would include thousands of people covered by two retirement plans affiliated with the Carpenters Trusts of Western Washington between August 2016 and May 2020. The parties announced their agreement on class certification in a stipulation filed Wednesday with Judge John H. Chun in the US District Court for the Western District of Washington.

The plan participants’ lawsuit is fallout from the collapse of ...