Two U.S. pension funds sue BlackRock (BLK), alleging the asset manager systematically "looted"...

|By:, SA News Editor

Two U.S. pension funds sue BlackRock (BLK), alleging the asset manager systematically "looted" securities lending revenues from its iShares ETFs by taking 40% of the money for itself. One academic says 20% is a more typical cut, and 35% would be considered "high."