Former employees can sue under ERISA for alleged fiduciary breaches that reduced their lump-sum pension benefits from a defined contribution pension plan, the 1st Circuit has ruled. Employees of a publicly traded company contributed portions of their salary to their own investment accounts. Employer matching contributions were made using company stock instead of cash. One of the investment options was dominated by the employer's stock and stock of related companies. The employer made contributions this way over several months despite knowing that its stock value was plummeting due to litigation and liability concerns. The employer ultimately went bankrupt and announced the fund would be dissolved, its stock sold and a lump sum payment distributed to employees.
...PART 703: INVESTMENT AND DEPOSIT ACTIVITIES. 703.2 - Definitions. The ... right to alter the level and timing of the cash flows of the investment. Embedded options include ...
BOSTON (AP) -- Stride Rite Corp. said Thursday it is acquiring Saucony Inc. for $170 million in a pairing of Massachusetts shoemakers that is expected to boost the smaller Saucony's prospects amid industry consolidation. The cash deal comes 10 months after Saucony hired an investment bank to help it consider strategic options including a possible sale.
This paper presents a simple framework for the analysis, valuation and simulation of several real options in the presence of shadow costs of incomplete information. Information costs can be viewed as sunk costs in the spirit of Merton's (1987) model of capital market equilibrium with incomplete information. We incorporate these sunk costs in standard discounted cash flow techniques and present the basic concepts of real options. The justification of information costs in real projects is based on the observation that R&D needs to be done before investment decisions. These costs account for all the expenses needed to be informed about an investment opportunity and the management of projects. This analysis extends the models in Bellalah (1999, 2001) for the valuation of real options wi...
... Public Customer Orders in the NASDAQ Options Market. The change recognizes the extent to which ... investors are active in trading both cash equities and options on behalf of such customers. ... asset classes within a single investment strategy. NASDAQ also notes that cash equities and...
...SECURITIES AND EXCHANGE COMMISSION. Investment Company Act Release No. 29752; File No. 812-13773 ... of its total assets in futures contracts, options on future contracts, options and swaps, cash, cash...
...They find that higher cash-flow rights, held by the controlling shareholder, ... evidence that the dollar value of stock options held by the CEO is positively related to charter v... Financial Corp.), savings & loans, investment banks, money market funds, hedge funds, consumer f...
...SECURITIES AND EXCHANGE COMMISSION. Investment Company Act Release No. 29829; File No. 812-13830 ... of its total assets in futures contracts, options on future contracts, options and swaps, cash, cash...
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