District Court Roundly Rejects Oshkosh ERISA Challenge
The court said that a plan’s mere underperformance, absent any specific allegations of imprudence, is not actionable.
Tag: retirement plan litigation
NLRB Finds Company Did Not Violate Bargaining Agreement by Changing 401(k) Match Formula
The National Labor Relations Board found that the match formula stated in a memorandum of agreement between an employer and...
Chamber of Commerce Says Cookie-Cutter Excessive Fee Suits Harm Participants
After pointing out the flaws in excessive fee allegations and what it says is the real motivation for the lawsuits,...
Court Tosses PNC Excessive Recordkeeping Fee Suit
The plaintiffs have already filed an amended complaint after a judge found that their allegations were insufficient to state a...
Lawsuit Says Baptist Health South Florida Didn’t Follow IPS
The claims are typical of excessive fee lawsuits, but the plaintiffs’ lawyers attempt to cover their bases by addressing issues...
Court in DST Systems Case Rejects Settlements While Certifying Class
The long-running case, in which investment adviser Ruane, Cunniff & Goldfarb is also a defendant, concerns investments of retirement plan...
Court Finds Board Approval Not Needed for Exec to Get SERP Benefits
Although it was a longstanding practice for the trustees of the Young Adult Institute to vote on executives’ entry into...
Court Revives Part of NYU ERISA Suit
An appellate court found the district court erred in dismissing claims related to the use of higher-cost share classes and...
Lack of Revenue Sharing Questioned in ERISA Lawsuit
Retirement plan fiduciary breach lawsuits question the use of revenue sharing far more commonly than they criticize its absence.
Xerox Faces ERISA Excessive Fee Suit
The plaintiffs claim recordkeeping expenses more than doubled during the time Xerox Corp. used its affiliated recordkeeper.
Plaintiffs Say SeaWorld Plan Paid Excessive Fees
Plan fiduciaries are also accused of "failing to offer and retain a diverse pool of investment funds in accordance with...
Amway ERISA Lawsuit Gets Green Light
The defense’s dismissal motion has been met with skepticism by the presiding district court.
Law Group Asks Court to Narrow Standing for Plaintiffs in ERISA Suit
In an amicus brief in support of Universal Health Services, the foundation argues that a district court missed the mark...
Plaintiffs in Excessive Fee Suit Overcome Hurdles to Move the Case Forward
The participants’ claims regarding Omnicom’s continued use of an active TDF suite were found plausible, and a judge left until...
D&I Efforts, ESG Investing and More Lawsuits Are Among 2021 DC Trends
Janus Henderson Investors reviewed study findings, recent legislation and litigation during a webinar.
Great-West Defendants Prevail in Appeal of Fee Challenge
Affirming a lower court ruling in its entirety, the 10th Circuit found that plaintiffs neither present evidence establishing the outer...
Medical System’s Retirement Plans Target of Excessive Fee Lawsuit
The suit claims the use of an asset allocation solution for the medical system’s 401(a) and 403(b) plans funneled participant...
5th Circuit Ruling Backs American Airlines in ERISA Suit
The ruling represents a legal win for American Airlines in a lawsuit alleging it provided a poorly performing capital preservation...
MetLife Accused of Disloyalty in ERISA Suit
The lawsuit claims MetLife offered its proprietary index funds in its 401(k) plan for its own self-interest and didn’t try...
Judge Moves Forward Lawsuit Challenging Use of Active TDF Suite
She found the allegations were sufficient to plausibly allege a fiduciary breach and said the determination for appropriate benchmarks for...