University of Chicago Faces Excessive Fee Lawsuit
The university is accused of not negotiating a better price for recordkeeping and retaining high cost, underperforming investments, among other...
Tag: Litigation
Attorney Describes What Makes a Good ESOP Candidate
One experienced benefits attorney says he has seen employee stock ownership plans do a whole lot of good for a...
FedEx Faces Challenge of Pension Calculations Under USERRA
The lawsuit claims FedEx did not apply the formula for calculating pension benefits that USERRA requires for military-member employees whose...
Guaranteed Investment Contracts Called Out In Principal Lawsuit
Participants in plans that purchased guaranteed investment contracts from the Principal say the arrangement has led to prohibited transactions under...
Multiemployer Plan Member Has No Claim Against Rehabilitation Amendment
WestRock RKT Company claims that the amendment violates ERISA because “critical status [multiemployer plans] with valid rehabilitation plans may not...
Duke University 403(b) Plan Excessive Fee Suit Moves Forward
Claims moving forward regard excessive fees by using four recordkeepers and excessive fees by offering too many funds in the...
TIAA Settlement Agreement Goes Beyond Monetary Compensation
A significant number of non-monetary settlement terms have been agreed to, including that TIAA will add more non-proprietary investment options...
Starwood Hotels 401(k) Excessive Fee Suit Moves Forward
A district court judge found the plaintiffs “have pleaded sufficient facts from which the Court can reasonably infer that Starwood...
RJR Wins Third Appellate Decision in ERISA Case
The text of the latest appellate court decision offers some food for thought about whether and to what extent there...
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The More Information ERISA Litigators Have, the Better
An ERISA litigator weighs in on whether information from a new analytics tool would be helpful to attorneys and their...
Disney Plan Fiduciaries Defeat Investment Option Challenge
Plaintiffs unsuccessfully alleged plan fiduciaries should have known that an investment option had the “clear indicia of a growth stock,”...
Adviser Dismissed From BB&T Self-Dealing Litigation
While the advisory firm has now been dismissed from the pool of defendants, the wider case itself will still apparently...
DOL Investigation Results in Plan Restorations
Department of Labor investigators secured a judgement restoring more than $40,000 to plan participants working for a Michigan tire manufacturer.
Judge Moves Forward J.P. Morgan Stable Value Fund Litigation
The plaintiffs seek to represent participants in more than 300 retirement plans which were invested in 78 stable value funds,...
Court Rules For CVS In Stable Value ERISA Challenge
Summarizing its decision, the court observes, “It is well established that the test of prudence ... is one of conduct,...
Fiduciary Caused ESOP Participants To Overpay for Company Stock
A New Jersey District Court judge awarded more than $9.4 million to the plan.
Fujitsu’s Motions to Dismiss 401(k) Excessive Fee Suit Denied
A federal court judge has found the plaintiff’s claims plausible.
Court Asked to Compel Arbitration of Schwab Self-Dealing Suit
According to the motion filed by attorneys, the fact that the plaintiff’s claims are brought pursuant to ERISA’s civil enforcement...
Peabody Energy Stock Drop Suit Dismissed
A judge concluded plaintiffs did not allege special circumstances or offer plausible alternatives according to standards set forth in the...
BlackRock Faces 401(k) Excessive Fee Case
The complaint specifically calls out the use of BlackRock target-date funds which it says use excessive fund layering, subjecting participants...