Investment Manager Held Liable for Not Diversifying Plan Assets
Fiduciaries should do everything possible to overcome perceived impediments to diversifying retirement plan assets, a judge found.
Tag: Litigation
Unpaid Plan Contributions Can Be Discharged in Bankruptcy
A federal appellate court found unpaid multiemployer plan contributions are not assets of the plan, so a member employer has...
Record Companies Sued Over Pension Contributions
Several well-known music recording companies are named in a lawsuit tied to music streaming revenues and other sources of potential...
11th Circuit Reaffirms Delta Air Lines Stock Drop Victory
Circuit court sees no need to change a previous ruling in a stock drop case, reconsidered in light of the...
N.J. Supreme Court Will Consider COLAs
Retirees in New Jersey’s public pension system could see cost of living adjustments restored by the state’s Supreme Court.
DOL Sues for 401(k) Fringe Benefit Contributions
The agency says $108,000 in fringe benefit contributions were not forwarded to the Brunk Industries Contractors and Employees 401(k) Plan.
ESOP Sponsor May Have Had Heightened Duty to Disclose
A court has found questions exist about whether a privately-held company had a duty to disclose a contemplated merger to...
DOL Gets Final Judgment in Misuse of Pension Funds Cases
The latest court order culminates six years of investigations and three years of legal battle.
On Remand, ABB Wins Fund Change Case
In the long-running Tussey v. ABB lawsuit, a court found ABB breached its fiduciary duties, but a procedural error by...
DOL Seeks Independent Fiduciary for Abandoned Plan
The plan’s recordkeeper refused to make distributions after the former plan fiduciary changed each participant’s address to his own.
9th Circuit Confirms Stock Drop Remand
The 9th U.S. Circuit Court of Appeals refused to again revisit an amended decision in a long-running and complicated stock...
SCOTUS Won't Hear Reverse Stock Drop Case
The reverse stock drop case Tatum v. RJR Pension Committee has been turned down by the Supreme Court.
World’s Largest Coal Company Faces ERISA Suit
A former employee of Peabody Energy is suing the coal producer over company stock investments in its DC plans.
DOL Sues Firm Over Company Stock Purchases
The Labor Department filed suit against a California-based manufacturer to recover millions of dollars for ESOP plan participants.
4th Circuit Revives Case Over Transfers to Cash Balance Plan
The appellate court found that Bank of America’s closing agreement with the IRS did not make the case moot.
Settlement Reached in Fannie Mae Stock Drop Suit
Affected participants will receive $9 million, less attorneys’ fees and settlement expenses.
U.S. Recommends Denial of RJR Stock Case Review
U.S. Solicitor General Donald B. Verrilli Jr. said the questions before the Supreme Court in RJR Pension Investment Committee v....
PSNC: Avoiding Lawsuits
It’s often simply a lack of oversight and processes not followed.
Documentation and Deliberation Remain Critical Post-Tibble
Two experienced ERISA attorneys suggest the Tibble fee case ruling is a positive for retirement plan sponsors—highlighting important best practices...
Increased Litigation Not Necessarily the Result of Tibble
Some have taken the Supreme Court’s decision in Tibble vs. Edison as paving the way for increased litigation based on...