The scandal surrounding Allianz Global Investors US is far from over as new class actions pile up and blame is being placed across different quarters.
A Blue Cross and Blue Shield Association benefits committee says adviser firm Aon Investments USA that was supposed to help investors vet their risks fell down on his responsibilities while the advisor firm claims a number of executives at Blue Cross failed to do their jobs. Blue Cross - a federation with more than 100 million customers - had invested US$3 billion into the Allianz funds, which represents 62% of its entire pension portfolio, and has become by far the biggest loser, among the 114