Tag: Fiduciary

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.

Allegations in the lawsuit against Barnabas Health closely parrot other proposed class action complaints filed in the past year against health care systems by the law firm Capozzi Adler.

If the fiduciary rule saga has made one thing clear, it is that creating consensus about conflict of interest regulations is hard work. Even supporters of the new Department of Labor proposal say there is room for improvement.

Consumer groups and advocates of the fiduciary adviser industry want the Department of Labor to reconsider aspects of its proposed fiduciary rule.

Situations like this emphasize the clear and present need for retirement plans to implement effective cybersecurity policies.

While not the smallest to face an excessive fee lawsuit in recent years, Biogen’s defined contribution plan held less than $1 billion at the start of the proposed class period.

The lawmakers say environmental, social and governance-focused investing allows retirement savers to support long-term change by building a system that rewards and values inclusion and diversity in corporate culture, from the board to the workforce.

The basic contention of the lawsuit was that the company acted in a manner contrary to ERISA’s fiduciary requirements when it forced terminated employees to liquidate company stock holdings at an unfair price.

The plan being challenged in the latest fiduciary breach lawsuit held less than $300 million as of the start of last year, making it one of the smallest to become the target of an ERISA complaint.

The complaint has been dismissed without prejudice, however, and the plaintiffs have until July 28 to attempt to remedy failures in their lawsuit.

Following the filing of various class member objections, a federal district court has denied a settlement agreed to by the parties in an ERISA fiduciary breach lawsuit against Northrop Grumman.

Three new lawsuits question the offering of actively managed target-date funds to retirement plan participants.

The Department of Labor has taken yet another step forward in what has been more than a decadelong effort to update the fiduciary duty applying to investment professionals serving workplace retirement plans.