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A federal judge gave final approval to a $15.15 million settlement of a class action lawsuit filed against General Dynamics Corp. and Fiduciary Asset Management over the fees and management of General Dynamics' 401(k) plans. The St. Louis law firm of Schlichter, Bogard & Denton, which represented the class, will collect $5.05 million in attorney fees and $692,000 in costs. U.S. District Judge G. Patrick Murphy, of the Southern District of Illinois, approved the settlement and attorneys' fees yesterday. He also approved the payment of $25,000 to each of the three named plaintiffs.
A federal judge gave final approval to a $15.15 million settlement of a class action lawsuit filed against General Dynamics Corp. and Fiduciary Asset Management over the fees and management of General Dynamics' 401(k) plans. The St. Louis law firm of Schlichter, Bogard & Denton, which represented the class, will collect $5.05 million in attorney fees and $692,000 in costs. U.S. District Judge G. Patrick Murphy, of the Southern District of Illinois, approved the settlement and attorneys' fees Monday. He also approved the payment of $25,000 to each of the three named plaintiffs.
Anatol "Ted" Balbach, who served as director of research at the Federal Reserve Bank of St. Louis between 1975 and 1992, died in St. Louis on Dec 1, 2007. Ted continued and strengthened the St. Louis Fed research tradition developed and nurtured by Homer Jones. Balbach was born in Lithuania on Oct 31, 1927, and arrived in the US with his mother in 1948 after World War II. In 1971, Balbach joined the Bank's Research department as a visiting scholar and became a staff member in 1973. Following his retirement, Balbach consulted for Fiduciary Asset Management Co. He is survived by his wife of 49 years, Rachel (Rae), and sons Bruce and Adam.
More than 120 years after Charles Howell James founded C.H. James & Co. in Charleston, his great-grandson and great-great-grandsons appeared last week in an advertisement in Time magazine representing the oldest black-owned company in America. Charles H. James III - and his sons C.H., Nelson and William, who were identified as "future entrepreneurs" - were all in the advertisement for Northern Trust. The company is based in Chicago and "is a leading provider of global investment management, asset and fund administration, fiduciary and banking solutions for institutions and affluent individuals worldwide," according to its Web site. Northern Trust is 115 years old.
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