Alecta to lead class action lawsuit against collapsed US niche bank

A US court has appointed the Swedish pension giant lead plaintiff in a lawsuit against First Republic Bank, which failed earlier this year. 
First Republic Bank was one of three US niche banks that collapsed this spring. | Photo: Jeff Chiu/AP/Ritzau Scanpix
First Republic Bank was one of three US niche banks that collapsed this spring. | Photo: Jeff Chiu/AP/Ritzau Scanpix

Sweden’s largest commercial pension fund, Alecta, is leading a group of investors in an attempt to recover at least some of the money that was lost when First Republic Bank failed this spring.

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