John Carl of AllianceBernstein won $10 million in damages against the firm and $2 million in punitive damages.
Eight percent of investors have recently halted or reduced their contributions in 401(k) plans, a study reveals.
The average cost for Section 404 compliance was $1.7 million, according to a Financial Executives International survey.
“We’re going to see new products for [income] guarantees that aren’t insurance,” said Laura Varas of FRC.
A majority of American —68% — believed that the United States is headed into a recession, according to a survey
“I ask Congress to do its part ... instead of issuing or sending bills that simply look like political statements,” said President Bush.
Consumer confidence continued to head south this month as a weak job market and high gas prices pummeled the U.S.
Deutsche Bank AG reported its first quarterly loss in five years, due to $4.2 billion in write-downs.
Allianz's first-quarter net income slid to $1.7 billion, down 66%, from $4.9 billion in the same period last year.
Home foreclosure filings increased 112% during the first quarter of 2008, according to RealtyTrac Inc.
