A class-action lawsuit alleges that the company breached its fiduciary duties in connection with a change in the investment menu. Most of the assets in the $1.4 billion plan went into Russell Investment target-date funds, according to the complaint.
Chief Executive Officer James Gorman unveiled his biggest leadership change in over a decade, positioning a slate of potential successors that’s mostly White and male -- just as Wall Street’s bosses have been for decades.
“You’re looking at volatility levels that are four times that of gold or of equities, and this is going to make it prohibitive for a lot of corporate treasurers and institutional investors who think that they can do a significant size holding in this."
WeWork reported that it lost $2 billion in the first quarter and lost 200,000 members during the pandemic, reports Insider. The Wall Street Journal explores the implications of if some pandemic behaviors, like drops in business travel, endure during the recovery. These are among today’s must reads from around the commercial real estate industry.
Bridget J. Crawford, professor of law, Pace University School of Law in White Plains, N.Y., Kelly Purser, faculty of business and law, Queensland University of Technology in Brisbane, Australia and Tina Cockburn, faculty of law, Queensland University of Technology in Brisbane, Australia.