Appellate Court Supports Win in Lawsuit Over Sequoia Fund in Disney 401(k)
The court found the Sequoia Fund’s investment in Valeant Pharmaceuticals was consistent with the retirement plan documents, and plaintiffs concentrated...
Tag: retirement plan litigation
PBGC Seeks Recovery of Investment Losses for Terminated Retirement Plan
The lawsuit claims owners of Freedom Communications made ill-advised, highly speculative investments which caused the pension plan to lose tens...
Parties in Vanderbilt University 403(b) Suit Have Reached a Settlement
A federal district court judge has granted the parties' request to set a deadline of April 22, for the filing...
ICI Says Supreme Court Holds Important Decision in Its Hands
In an amicus curiae brief, the Investment Company Institute says letting an appellate court decision in a case against Putnam...
Fidelity Charged With ‘Secret’ Payment Scheme in Violation of ERISA
A lawsuit contends that kickback payments Fidelity requires from investment funds bear no relationship to the cost or value of...
Parties Reach Settlement Agreement in Anthem 401(k) Excessive Fee Case
The case is notable for arguing that an investment that had only a 4 basis point annual fee could have...
U.S. Supreme Court Denies USC Petition to Review Motion to Compel Arbitration
The denial leaves in place an appellate court’s decision that claims in a lawsuit against the University of Southern California...
Details of Settlement of Franklin Templeton Self-Dealing Lawsuit Revealed
In addition to a more than $13 million payment, Franklin has agreed to select a non-proprietary target-date fund (TDF) for...
Retaliation Claim Against Central States Multiemployer Plan Dismissed
Employees of Kroger say Central States’ plan trustees refused to negotiate a proposal with them after they filed an ERISA...
Exxon Mobil Stock Drop Suit Dismissed
A federal judge concluded for a second time that plaintiffs in the suit failed to meet a significant pleading standard...
MassMutual Wins Lawsuit Over Stable Value Fund Spread
A judge found the plaintiff in the lawsuit was bound by a prior settlement agreement and that MassMutual did not...
Anthem 401(k) Fiduciaries Denied Summary Judgment in Fee Case
A federal judge found that the plaintiffs provided more than enough evidence to support excessive fee claims, noting that, “Plaintiffs...
Stadion, United of Omaha Face Lawsuit Over Managed Account Offering
According to the lawsuit, Stadion directed participants’ accounts into investments that would better benefit itself and Mutual of Omaha, and...
Failure to Remit Contributions Cost Retirement Plan Fiduciaries Over $500,000
In addition, a federal district court has ordered the trustee of the plans not to serve in a fiduciary capacity...
University of Rochester Excessive Fee Suit Voluntarily Dismissed
According to the complaint, TIAA has been able to extract “grossly excessive fees” because its fees are tethered not to...
Putnam Supreme Court Petition Asks About Comparisons to Index Funds
In addition to asking the high court to weigh in on whether the plaintiff or the defendant bears the burden...
Details Available About Duke University 403(b) Lawsuits Settlement
The settlement agreement calls for a gross monetary payment of $10.65 million to a settlement fund and other non-monetary actions...
Judge Rules to Dismiss Georgetown University 403(b) ERISA Lawsuit
The colorfully worded opinion chides plaintiffs for failing to acknowledge the unique character of 403(b) retirement plans—including their common use...
ConAgra Brands Faces ERISA Suit Over Interpretation of Plan Document
The complaint argues defendants violated ERISA duties by reinterpreting plan language in a conflicted manner aimed at reducing employer costs.
Chevron Plaintiffs Make One More Attempt to Win ERISA Challenge
In a case that alleges, among other things, that defendants breached their ERISA duties by offering a money market fund...