Tag: ERISA

After years of litigation and an eight-day bench trial, neither side can claim complete victory in the complicated case of Ramos v. Banner Health.

A federal judge noted that the pandemic will affect civil jury trials in the Southern District of New York “for a considerable and presently unknowable time to come.”

The plan in question has about $800 million in assets, meaning it is quite a bit smaller than many other employers that have faced fiduciary breach lawsuits.

The interim ruling permits the lawsuit to proceed to discovery and emphasizes the importance of language included in summary plan descriptions.

The case is an example of class action fee litigation targeting a ‘large’ rather than a ‘jumbo’ plan, as the Aegis retirement plan under scrutiny holds less than...

The lengthy new complaint stretches over some 150 pages and includes 12 counts that echo those filed last week in a separate lawsuit targeting an ADP multiple employer...

The plan's investment adviser is also named as a defendant, accused of helping select and retain high-cost, poorly performing funds.

The lawsuit almost completely mirrors allegations in complaints recently filed by the same law firm.

A district court judge dismissed the case on the basis that plaintiffs had not sufficiently alleged an alternative course of action that their plan fiduciaries could have taken.

The complaint notes that the definition of compensation for deferral purposes in the plan document includes tips received.

The plaintiffs say there is additional evidence for their claims, “such as incorrect reporting on mandatory Department of Labor disclosures about the amount of administrative fees paid by...

The DOL alleged Wilmington Trust caused losses to ESOPs when it authorized them to pay more than fair market value for privately held employer stock.

A court found most actions alleged in participants' complaint were not fiduciary functions.

One of the defendants in the case, the trustee who oversaw a questioned ESOP buyback transaction, was at the time allegedly working as the chief financial officer of...

The plaintiffs sued for failing to seek competitive bids for recordkeeping, but admitted to not knowing the amount Trader Joe’s paid in recordkeeping fees.

The lawsuit alleges the defendants did not try to reduce the plan’s expenses or exercise appropriate judgment to scrutinize each investment option that was offered in the plan...

Like many of us lucky enough to still be working during the pandemic, the Supreme Court is operating on a remote basis as the justices contemplate a case...

A federal district court in New York has refused to dismiss a lawsuit claiming the InterContinental Hotels Group owes accelerated withdrawal payments to a national union pension plan.

Under the terms of the proposed settlement, Putnam will pay $12.5 million into a common fund for the benefit of settlement class.

The complaint says plan fiduciaries didn't look into lower-priced share classes, investment vehicles or passively managed funds.