Principal Faces Lawsuit Over Management of TDFs
The lawsuit questions the selection of underlying investments for the Principal LifeTime Hybrid Collective Investment Funds, alleging Principal used proprietary...
Tag: retirement plan participant lawsuits
Brief in University of Pennsylvania 403(b) Lawsuit Points Out Differences From 401(k)s
An amici curiae brief filed by the American Council on Education and other higher education associations details the history of...
Former Committee Members Not Free from Church Plan Challenge
Former committee members for the pension plan of St. Elizabeth Medical Center moved to have themselves dismissed from a lawsuit...
SunTrust Agrees to Settlement in Long-Running ERISA Suit
In addition to a monetary payment of $4.75 million, the bank agreed to non-monetary terms regarding payment and vesting of...
Appellate Court Orders Dismissal of Fee Case Against Transamerica
Just as another court did in a similar complaint against John Hancock, brought by the same plaintiffs, the 9th Circuit...
Court Affirms Dismissal of Fidelity Stable Value Fund Suit
The 1st U.S. Circuit Court of Appeals found that Fidelity’s decision to obtain more secure wrap coverage for the stable...
5th Circuit Affirms Dismissal of RadioShack Stock Drop Suit
The court found participant claims did not meet standards set forth in Fifth Third Bank v. Dudenhoeffer.
Oracle Excessive Fee Suit Gets Class Certification
However, a federal judge certified subclasses on the imprudent investment claims because class representatives were not all invested in the...
Self-Dealing Suit Filed Against Mutual of Omaha
The complaint alleges fiduciaries of Mutual of Omaha’s 401(k) plan violated their fiduciary duties by selecting numerous investment options because...
Hospital 403(b) Plan Faces Lawsuit Over Investment Share Class Selection
The plaintiffs claim plan fiduciaries repeatedly failed to monitor the share classes of mutual fund investments and to substitute less...
Third Complaint Against NYU 403(b) Plan Adds Adviser as Defendant
Allegations against Cammack LaRhette Advisors contend it gave “flawed advice” to plan fiduciaries regarding investments, which Cammack denies.
6th Circuit Rules for Eaton Corp. in ESOP Suit
The appellate court agreed with a lower court that plaintiffs did not meet pleading standards set forth in the Supreme...
Princeton University Lawsuit Stayed While 3rd Circuit Deliberates
On the motion for reconsideration of its previous choice to rule against summary dismissal, the court is quite skeptical. It...
Citigroup Proprietary Fund Suit Gets Class Certification
Before certifying a class in the litigation, a federal judge determined that the named plaintiffs need not have invested in...
NYU Participants File Second Excessive Fee Complaint
In the new complaint, participants attempt to offer more evidence for claims that were dismissed in another pending lawsuit.
SIFMA Urges Court to Affirm Decision in Fidelity Stable Value Fund Suit
The association argues that plaintiffs’ claims rely on hindsight, ask Fidelity to “follow the herd” and imply Fidelity should not...
Nordstrom Faces 401(k) Plan Excessive Fee Suit
The lawsuit suggests Nordstrom should have offered managed accounts or collective investment trusts to participants in its 401(k) plan.
Appellate Court Affirms Top Hat Plan Change in Crediting Rate
The court found nothing in the plan document prevented the board of the Computer Sciences Corporation Deferred Compensation Plan for...
Second Lawsuit Filed Against GE for Self-Dealing in 401(k)
The lawsuit accuses General Electric 401(k) plan fiduciaries of violating ERISA by offering and failing to monitor funds in the...
Northrop Grumman Excessive Fee Case Moves Forward
Noteworthy about the case is that a challenge to fees provided to the recordkeeper via an arrangement with Financial Engines...