Allianz US Unit Ordered to Pay $6 Billion in Securities Fraud Case

Description: A New York judge has ordered Allianz Global Investors US, a unit of Allianz SE, to pay approximately $6 billion as a penalty for misrepresenting the investment risk associated with a group of hedge funds. The collapse of these funds during the Covid-19 pandemic led to market fluctuations, resulting in this significant securities fraud … Read more