Emergence of the settlement details comes after the filing of a stay motion in December.
Associated Banc-Corp is also accused of allowing the plan to pay excessive recordkeeping fees to its subsidiary.
The ruling states there are genuine disputes of material facts as to make summary judgement, whether in favor of the plaintiffs or the defense, inappropriate at this time.
The lawsuit said the DST Systems Inc. profit sharing and 401(k) plans were invested too much in Valeant Pharmaceuticals.
The Vail Corp. has skied past a fiduciary breach lawsuit, which was dismissed with prejudice in a detailed ruling.
The insurer is charged with engaging in a prohibited transaction under ERISA when the fees were charged during a move to a new provider, as well as with self-dealing.
The plaintiffs’ plea to the Supreme Court questions the precedents set by Fifth Third v. Dudenhoeffer—a 2014 high court ruling that significantly raised the pleading standards for ERISA stock-drop lawsuits.
A new complaint filed in Illinois echoes allegations leveled against the insurance company in a complaint from November.
Among other important developments, the Department of Labor has confirmed that one cannot simply write their way out of a functional fiduciary relationship.
The proposed agreement stipulates that the class counsel does not intend to seek recovery of any attorneys’ fees or litigation costs from Community Health Systems (CHS) in connection with the settlement.
The short, pro-defense ruling concludes that the lead plaintiff has not exhausted all potential administrative remedies, making a lawsuit inappropriate at this juncture.
Fiduciaries are accused of failing to switch to and investigate the availability of lower-cost versions of funds offered in the plan.
A federal judge granted Cerner’s motion to dismiss the case then reopened it on the same day, announcing the parties were to discuss a potential settlement.
Details have not yet been published, but a court filing shows the parties have reached an agreement to resolve the long-running case.
It’s anyone’s guess at this early juncture whether the fiduciary breach lawsuit will fizzle, though it includes some familiar allegations from other lawsuits filed by Capozzi Adler.
A federal district court judge noted there are more than 460,000 loans at issue.