Deutsche Bank Self-Dealing ERISA Suit Partly Dismissed
The mixed ruling grapples with binding circuit court guidance and reaches quite different conclusions regarding various allegations of prohibited transactions...
Tag: Litigation
Taxpayer Association Seeks to Derail California Secure Choice
According to the text of the complaint, the act that created the California Secure Choice program “violates the Supremacy Clause...
District Court Admits Error in ERISA Lawsuit Ruling
The district court’s new decision comes after its previous move denying defendants’ motion for summary judgment against plaintiffs’ claims, which...
Prison Sentences Handed Down in DOL ERISA Fraud Case
According to the DOL and FBI, two former executives of First Farmers Financial produced false documents and sent them to...
ERISA Fiduciary Breach Litigation Targets Home Depot, Financial Engines
The text of the complaint includes substantial detail about the inner workings of the Home Depot retirement plan, and its...
Judge Consolidates Franklin Templeton Self-Dealing ERISA Lawsuits, Rejects Dismissal Motions
According to multiple underlying complaints, which can now proceed to a consolidated trial, all of the several dozen mutual funds...
Fiduciary Governance Group Launched by Stradley Ronon
The fiduciary governance group is designed to counsel investment committees and service providers, with a focus on avoiding and responding...
Court Rules Method for Calculating Multiemployer Plan Withdrawal Liability Was Improper
A federal district court has ruled a multiemployer pension fund's use of the "Segal Blend" rate when assessing a member's...
Aon Hewitt Defeats ERISA Claims Regarding Financial Engines Partnership
The central claim in the failed class action was that plaintiffs were forced to overpay significantly for advisory services; defendants...
District Court Rejects Racketeering Claims Against Prudential, Morningstar
A district court has ruled that the complaint “does not sufficiently plead that the defendants were engaged in the conduct...
Tough Process Questions Raised by Fifth Circuit Fiduciary Rule Decision
To help ease the immediate concerns and confusion of clients, the law firm Stroock has published a helpful guide that dissects...
Circuit Courts’ Conflict on DOL Fiduciary Rule Could Persist
The fact that two U.S. Circuit Courts of Appeals, the Fifth and the Tenth, have issued conflicting rulings about the propriety of...
Plan Sponsors, Providers and Participants Speak of Different Perceptions, Priorities
Research reveals that less than half of sponsors believe that employees are solely responsible for their own retirement savings and...
Georgetown University Latest Collegiate Target of ERISA Litigation
Familiar allegations are leveled against Georgetown University in the latest example of defined contribution litigation to hit a big-ticket U.S....
Dismissal of Capital Group Self-Dealing ERISA Challenge Offers Fiduciary Insight
With the new opinion, the district court seeks to make clear where the line is when it comes to pleading...
Ruling in Charles Schwab Self-Dealing Suit Suggests Limits of Arbitration Agreements
For one thing, a federal court judge found the defendants provide no authority supporting their contention that a plan document...
Retirement Funds Among Targets of Securities Fraud
Brokers serving retirement plans and other institutional investors were accused of routing orders for equities to an offshore affiliate in...
Settlement Agreement May Conclude Allianz Self-Dealing Challenge
Along with non-monetary relief, Allianz will pay $12 million into a common fund for the benefit of class members, to...
ERISA Litigation Shows No Sign of Slowing in 2018
Proprietary fund lawsuits are viewed by plaintiffs’ firms as one of the types of excessive fee cases that are likely...
Delta Air Lines Excessive Fee ERISA Lawsuit Dismissed
Drawing on a number of recent decisions, the district court ruled the plaintiffs did not adequately describe how the offering...