Supreme Court Spokeo Decision Could Affect ERISA Plan Litigation
The high court ruling regards establishing whether a plaintiff has alleged a ‘concrete’ injury.
Tag: Litigation
Sponsor Facing Sizable Settlement for Poor ESOP Valuations
Count employer stock purchases within ESOPs among the activities receiving significant scrutiny from participants, regulators and litigators.
New Excessive Fee Suit Targets Advice, SDBAs
A lawsuit accuses Fidelity of receiving “kickbacks” from Financial Engines and leading retirement plan participants that use its SDBA option...
Retirement Plan Excessive Fee Suits Move Down Market
A Minnesota collision shop is being sued regarding its 114-participant 401(k) plan.
Supreme Court Revives Part of Verizon PRT Challenge
The high court disagreed with the dismissal of certain plaintiffs’ claims for lack of standing.
BB&T Finds Itself Targeted in Self-Dealing ERISA Suit
Those in the retirement plan industry hoping for a slowdown in ERISA-based lawsuits will be disappointed to read of a...
DOL Says Government Contractor Failed to Make 401(k) Contributions
The agency is seeking nearly $250,000 for 401(k) plan participants.
Former Plan Administrator in Contempt of Court Order Arrested
The DOL accused John Koresko V and other defendants of siphoning money from death benefit plans.
Mutual Fund Provider Targeted in ERISA Complaint for Self-Dealing
Participants in M&T Bank retirement plans accuse the company of unfairly promoting its own mutual funds at the expense of...
Appellate Court Affirms Fiduciaries' Liability for Mispriced ESOP Purchase
Among other things, the court found Herbert C. Bruister fired the ESOP’s counsel for being “too thorough,” and caused his...
Owed Retirement Plan Contributions Non-Dischargeable in Bankruptcy
Though a plan fiduciary filed bankruptcy, he still owes court-ordered retirement plan contributions.
Kodak Settles Stock Drop Suit for Nearly $10M
The lawsuit claims that when Kodak filed for bankruptcy protection in January 2012, it failed to take action to protect...
ESOP Participants Failed to State Claim Under Fifth Third Standard
A district court found the requirement to allege an alternative action in a stock drop case applied to participants in...
DOL Obtains Government Contract Retirement Plan Contributions
James Brunk and Brunk Industries Inc. will restore $95,000 to the company’s 401(k) plan.
Judge Says City National Was Self-Dealing in 401(k)
While it is not illegal to administer retirement plans in-house, a lawsuit filed by the Labor Department in 2015 alleged...
Edison Wins Dismissal of Excessive Fee Suit
The case had been remanded to an appellate court after a Supreme Court decision.
DOL Files Complaint Over Firm’s Failure to Close Profit Sharing Plan
An investigation conducted by the U.S. Department of Labor’s Employee Benefits Security Administration found Interactive Marketing Group failed to formally...
Gruber Systems Ordered to Pay for Improper ESOP Purchase
The DOL won a consent judgment and order valued at $1.1 million on behalf of participants in a Gruber Systems...
Fidelity, Putnam Excessive Fee Cases Moved Forward
A federal district judge denies motions to dismiss in both cases.
Partial Settlement Reached in RadioShack Stock Drop Case
A partial settlement has been reached in a stock drop case filed against the RadioShack company and its retirement plan...