Allianz Asset Management 401(k) Participants Allege Self-Dealing
Two participants in the Allianz 401(k) plan allege the asset manager maintained an all-proprietary fund lineup that included expensive, underperforming investments for the benefit of the defendants.
Sports Agency Owner Charged for Allegedly Stealing Retirement Assets
The Houston-based sports agent was served a civil suit by the Department of Labor for allegedly dipping into employee retirement savings for company operations.
Xerox Has Preliminary Settlement In Excessive Fee Lawsuit
The $4.1 million settlement is pending court approval.
Judge Dismisses Charge of “Unreasonable” 401(k) Fees by Electronics-Maker Ricoh
A federal district court bounced two fiduciary breach claims brought by participants against Ricoh USA, saying plaintiffs failed “to plausibly allege the committee breached its ERISA-imposed fiduciary duty by charging unreasonable recordkeeping fees."
Elevator Constructors’ Union Retirement Plan Sued
Two counts for breach of fiduciary duty were brought against the defendants.
Class Settlement Approved for AAA Carolinas ERISA Lawsuit
The lawsuit alleged fiduciary breaches to retirement plan participants from high fees and underperforming investments.
Legislative and Judicial Actions
Legislative and Judicial Actions
SEC’s Punitive Authority Tested by Latest SCOTUS Ruling
A nearly unanimous Supreme Court has seemingly set new limits on the punitive authorities of the U.S. Securities and Exchange Commission (SEC), though just how much has changed is up for debate.
Class Certification
