UPDATE 1-U.S. pension funds sue Blackrock, allege 'looting' at iShares
February 03, 2013 at 15:59 PM EST
NEW YORK, Feb 3 (Reuters) - Two U.S. pension funds filed a lawsuit against Blackrock, alleging that the world's biggest asset manager had "looted" securities-lending revenues from iShares exchange-traded funds investors, and breached its fiduciary duties.
