Tag: Employee Retirement Income Security Act

9th Circuit Upholds Dismissal of Chevron Fiduciary Breach Lawsuit

The appellate court found that the allegations showed only that Chevron could have chosen different vehicles for investment that performed better during the relevant period, or sought lower fees for administration of the fund, not that any breach of ERISA duties had occurred.

Putnam to Seek Supreme Court Input on Burden of Proof

Putnam Investments has asked for a stay in a case accusing it of self-dealing in its 401(k) plan so it can petition the U.S. Supreme Court regarding whether a plaintiff or an accused fiduciary has the burden of proving whether or not an ERISA fiduciary breach caused a loss.