A lawsuit was filed claiming the collateral funds generated from a securities lending arrangement were improperly invested in a short-term bond fund, specifically extendible RMBS-backed notes.

Retained by the defense counsel for U.S. Bank, NERA Senior Vice President Dr. Patrick Conroy submitted an expert report and assisted counsel by analyzing the overall portfolio lending arrangement and portfolio returns.

Case settled prior to start of jury trial.

Case Name: U.S. Bancorp Asset Management, Inc., f/k/a FAF Advisors, v. Woodmen of the World Life Insurance Society.