Tag: Litigation
Sears Holdings Faces Stock Drop Lawsuit
ERISA Suit Challenging Voya Stable Value Funds Rejected
The lawsuit unsuccessfully alleged Voya does not disclose to its retirement plan clients and their respective participants the amount of...
Stiff Prison Sentence After EBSA Fraud Investigation
EBSA says investors’ dollars, including ERISA-covered assets, were diverted to pay for home renovations, personal credit card payments and mortgage...
DOL Says Ponzi Scheme Included Employee Benefit Plan
MFS Accused of Engaging in Prohibited Transactions in 401(k)s
American Airlines Agrees to Settle Proprietary Funds Lawsuit
Brown University Faces Familiar Allegations in 403(b) Lawsuit
DOL Brief Defends Fiduciary Rule Despite Ongoing Review
Long-term, DOL staff is concerned about maintaining the department’s broad litigation and enforcement capabilities in the retirement plan services marketplace.
ERISA Suit Questions Money Market Performance, Recordkeeping Fees
Because revenue-sharing payments are asset based in the plan, plaintiffs argue, “they bear no relation to a reasonable recordkeeping fee...
ESOP Did Not Meet Burden of Proof in Case Regarding Failed Transaction
Asset-Based Fees Questioned in Nationwide ERISA Challenge
Waddell & Reed Charged in 401(k) Self-Dealing Suit
Washington University in St. Louis Faces Second 403(b) Lawsuit
Suit Challenging Voya’s Relationship With Financial Engines Dismissed
Court Rules for Putnam in Excessive Fee Suit
Sponsor Admits Embezzlement of Plan Dollars
The plan sponsor was criminally prosecuted and pled guilty to embezzlement in June 2016; she was ordered by EBSA to...
Sponsor Reaches Settlement Agreement with Merrill Lynch
Plaintiffs say the settlement agreement “provides an excellent recovery” for class members, paying them “100% of their losses.”
Washington University in St. Louis Faces 403(b) Plan Lawsuit
Stock-Drop Lawsuit Alleges Disclosure Failures
Plaintiffs attempt in their complaint to establish that fraud was at least potentially occurring, and that this should have been...