Dismissal Motion Fails in Natixis ERISA Lawsuit
The lawsuit, now cleared for discovery, claims that a proclivity for proprietary mutual funds has cost plan participants millions of...
Tag: retirement plan litigation
Nokia of America Among Latest Targets of ERISA Excessive Fee Suits
The lawsuit against the company claims that, in some cases, expense ratios for the plan’s funds were 364% above the...
Lawsuit Claims Voya Impermissibly Favored Its Own TDFs in DC Plan
Participants in Voya’s defined contribution retirement plan suggest certain funds were not selected and retained for the plan as the...
Plan Fiduciary Sentenced for 401(k) Plan Embezzlement
He pleaded guilty after the DOL found he fraudulently collected between $15,000 and $40,000 from plan participants’ accounts.
Delta Air Line’s Interest Rate and Mortality Assumptions Challenged in Court
The plaintiffs in a new ERISA lawsuit suggest Delta Air Line’s pension plans’ annuity conversion factors were set decades ago,...
Transamerica Hit With Lawsuit Over Data Breach
A retirement plan participant says that, since the data breach, his personal information has been used to make fraudulent purchases...
Plan Sponsors Are Getting No Answers From Excessive Fee Lawsuits
Excessive fee lawsuit activity has ramped up with no major decisions by the courts; however, a pending decision by the...
Review of Oral Arguments in Northwestern University ERISA Case
Two attorneys say things so far look good for Northwestern University, meaning the court could raise pleading standards for plaintiffs...
Exelon Sued Over Alleged Excessive Fees in Proprietary TDFs
The lawsuit also includes claims of excessive recordkeeping fees and unreasonable fees for managed account services.
Adidas Excessive Fee Complaint Fails
The unsuccessful complaint relied heavily on tabular depictions of the Adidas plan’s fees calculated as cost per 401(k) plan participant/beneficiary...
Alight Ordered to Comply With DOL Subpoena Related to Cybersecurity Incidents
A Department of Labor investigation was prompted, in part, by its discovery that Alight had processed unauthorized distributions from retirement...
Latest ERISA Excessive Fee Lawsuit Filed Against VCA
The plaintiffs argue the $500 million retirement plan’s fiduciaries failed to leverage the plan’s substantial bargaining power to benefit participants...
ERISA Lawsuit Filed Against Olin Corp.
The claims closely resemble those in prior suits filed by the law firm Capozzi Adler.
Judge Gives Plaintiffs in LinkedIn ERISA Suit Another Chance
The judge said he found deficiencies in their claims of imprudence and disloyalty related to certain investments and fees and...
Expect More Difficulty Obtaining Fiduciary Insurance
Issuers of fiduciary liability insurance are paying close attention to the glut of lawsuits filed in recent years against plan...
Huntington Ingalls Settles Lawsuit Over Use of Outdated Mortality Tables
The company has agreed to recalculate monthly benefits for participants and beneficiaries in the ‘legacy’ part of a pension plan.
Mercy Health Agrees to Settle Suit Filed on Behalf of Three Retirement Plans
In addition to a $3.9 million payment, the fiduciaries will retain an independent consultant to review investments and fees.
Excessive Recordkeeping Fee Lawsuit Targets Kroger Co.
Beyond claiming the imprudent payment by fiduciaries of excessive fees for recordkeeping, the lawsuit also alleges the defendants failed to...
DOL Alleges ESOP Sale Illegally Benefited Plan Fiduciaries and Their Children
The Department of Labor says the plan’s ownership interest was sold for less than market value, effectively transferring the rest...
Walgreen Co. Gets Rid of TDFs in Lawsuit Settlement
In addition to confirming the removal of challenged target-date funds, the defendants in the suit have agreed to a payment...