Archetypal Fee Litigation Case Targets Liberty Mutual
Plaintiffs say Liberty Mutual allowed excessive recordkeeping fees and failed to remove poorly performing investments.
Tag: ERISA
Cerner Corp. Faces Second Excessive Fee Suit
This new challenge is being filed in a different district court and claims that the participant has not signed an...
Lawsuit Claims Impostor Fooled Abbott Labs into Distribution
According to the lawsuit, an unknown user accessed the plaintiff’s stock plan account by exploiting the ‘forgot password’ option and...
Parties in JPMorgan Self-Dealing Suit Reach Settlement
The lawsuit alleged plan fiduciaries acted for their own benefit by forcing participants to choose among costly investments managed by...
Appellate Court Says Mercy Health’s Pension Plan Is a Church Plan
However, the case was sent back to a federal district court to determine whether ERISA’s church-plan exemption violates the Establishment...
ERISA Lawsuit Activity Continues Despite Court Lockdowns
Plan sponsors should continue to pay attention to litigation and consider what litigation may arise.
Plan Sponsors Should Be Extra Vigilant During Severe Market Volatility
For both DB and DC plan sponsors, fiduciary actions follow a different time frame when there is a sustained market...
Teva Pharma Must Face ERISA Fiduciary Breach Discovery, Trial
The plaintiffs have successfully amended their complaint and “plead charts, comparative studies and specific facts” necessary to proceed into discovery.
Supreme Court Denies Review of UPenn ERISA Lawsuit
A last ditch effort to point out that another circuit found no evidence of fiduciary misconduct in a similar case...
Trial Ordered for Anheuser-Busch ERISA Lawsuit
The complaint echoes other cases challenging actuarial assumptions used in calculating DB plan benefits.
Fiduciary Failures Affirmed in Fidelity Self-Dealing Challenge
A new district court ruling finds Fidelity liable for certain fiduciary breaches in the operation of its own retirement plan,...
Lawsuit Over Asset-Based Fees for Nationwide’s Retirement Plan Program Dismissed
The parties say they have reached a confidential settlement resolving all claims.
Lawsuit Accuses Nationwide of Trying to Profit From 401(k) Investment
The complaint says plan fiduciaries failed to negotiate fixed-interest contract terms for the 401(k) that were as good as the...
Appellate Court Adds Color to Northwestern University’s ERISA Suit Win
Throughout the 7th Circuit’s decision, it contends the plaintiffs put forth their own opinions and preferences rather than evidence of...
Central States Wins Lawsuit Over Kroger Withdrawal
It was the documented process of the multiemployer plan trustees’ considerations of withdrawal proposals by Kroger that helped them win...
Insurance Company to Pay $3 Million to ESOP for Alleged Share Overpayment
The DOL alleges that the company’s president influenced an appraiser’s valuation and the ESOP’s trustee didn’t do his due diligence...
Judge Moves Forward Suit Over Walgreen Plan TDF Mismanagement
The judge rejected the defendants’ argument that the complaint cannot be based solely on the funds’ underperformance but must contain...
New Lawsuit Accuses Wells Fargo 401(k) Plan Fiduciaries of Self-Dealing
Motives behind keeping higher cost, underperforming funds in plan alleged in the lawsuit include providing seed money for Wells Fargo...
Union Plan Member’s Lawsuit Over Unfunded Benefit Liabilities Dismissed
The lawsuit was previously dismissed because the alleged breach of fiduciary duty involved the amendment of plan benefits, which is...
BOK Financial Accused of Only Self-Interest When Selecting and Retaining 401(k) Plan Funds
Underlying investments in funds using BOK’s CIT structure, as well as the use of BOK’s proprietary money market fund, are...