Assisting Taft-Hartley Pension Plans (re: Securities Class Action Litigation)

IFS recently completed two engagements assisting Taft-Hartley pension plans in developing securities class action litigation policies and implementation protocols. These set forth specific roles for the plans’ trustees, staff, custodian, regular fund counsel and securities litigation outside counsel to protect the plans’ rights and potential claims arising out of portfolio losses attributable to possible securities law violations. The documents also articulate criteria that the plans’ trustees will use in deciding whether to take an active role in securities litigation by, for example, pursuing lead plaintiff status, pursuing separate litigation or challenging a settlement negotiated by others.