American Century Self-Dealing Complaint Advances
A district court judge in Missouri has denied American Century’s motion for dismissal of a lawsuit accusing the firm of...
Tag: Litigation
Trump Administration Hits Hurdle In Fiduciary Fight
While a new OMB determination seemingly makes it more burdensome for the Trump administration to unravel the DOL fiduciary rulemaking,...
Judge Denies Oracle’s Motion to Dismiss 401(k) Fee Lawsuit
A magistrate judge ultimately found plaintiffs in the case have met their pleading obligations.
Court Victories Add to Confusion Over Fate of Fiduciary Rule
Though courts are supporting the DOL, actions from the Trump administration may mean those victories do not matter.
T. Rowe Price Latest Target of Self-Dealing Lawsuit
A lawsuit accuses T. Rowe Price and its affiliates of not only offering just proprietary funds in the company’s 401(k)...
New York Life Agrees to Settle Self-Dealing Suit
The lawsuit accuses the insurance company of offering its proprietary fund in its retirement plans when lower-cost options were available.
UC Regents Sued for Interference of Benefits
The lawsuit also contends the defendant or its employees “discriminated against and/or harassed plaintiff on the basis of her age...
DOL Fiduciary Rule Wins Another Court Victory
A district court judge in Texas concluded the crafting and implementation of the fiduciary rule fit squarely within the DOL’s...
TIAA Faces Suit Over 403(b) Plan Participant Loans
Participants' loans were paid from TIAA's general account and the firm kept some of the interest participants paid, which the...
CVS Participants’ Second Attempt to Sue Over Stable Value Fund Fails
A federal court judge found an amended complaint relied on hindsight to find the stable value fund did not maximize...
Case About Domestic Partner’s Right to Pension Proceeds
A motion to dismiss, claiming that a domestic partner’s claims for benefits as well as a surcharge were duplicative, was...
Aon Hewitt Targeted in Kickback Lawsuit Filed by Caterpillar Plan Participants
The central claims in the proposed class action suggest plaintiffs feel they overpaid significantly for advisory services, with the excess...
Edward Jones’ Attempt to Dismiss Self-Dealing Suit Denied
A federal judge denied defendants’ motions in part because the plaintiff’s complaint states viable claims.
DOL Fiduciary Reform Effort Losing Steam
Advisers and service providers to defined contribution plans have spent millions of dollars pushing toward compliance with conflict of interest...
Self-Dealing Suit Challenges Fees and Fund Monitoring
An employee at JPMorgan Chase argues the firm's retirement plan fees were not properly controlled and that conflicts of interest...
Fiduciary Ordered to Give Up Cars to Restore Plan Losses
A federal court found that no amount of judgements from previous decisions had been satisfied.
Schwab Faces Excessive Fee, Self-Dealing Lawsuit
The lawsuit calls out Schwab’s use of its own proprietary funds as well as the use of unallocated plan cash.
Court Refuses to Dismiss Suit Against Franklin Templeton
Among other things, a federal court determined that, although the plaintiff signed a release of claims when terminated, the claims...
Supreme Court May Hear Case About Co-fiduciary Indemnifying Trustees
The case involves a complicated leveraged buyout of an ESOP that left participants with worthless stock.
Plan Sponsors Must Judge Fees Independently
Advisers and providers will help defend against fee challenges, but it is important to point out that the providers’ obligation...