Bartlit Beck Sues Allianz and Aon Over Collapse of Structured Alpha Hedge Funds

09.22.2020

On September 16th, 2020, a Bartlit Beck team including Sean Gallagher, Abby Mollen, Nico Martinez, Adam Hoeflich, and Mark Ouweleen filed a lawsuit on behalf of a trust containing the assets of 15 health insurance-related companies against Allianz Global Investors U.S. and Aon Investments USA in the U.S. District Court for the Southern District of New York. The lawsuit seeks to recover the substantial losses suffered by the defined-benefit plans of these companies whose assets were invested in various Structured Alpha funds—managed by Allianz and recommended to the companies by Aon—that collapsed in early 2020. The suit asserts claims for breach of fiduciary duty under ERISA and breach of contract.

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