Lawsuit Filed Against TIAA Alleging Mismanagement of Employee Retirement Funds
The complaint alleges TIAA breached its fiduciary duties and mismanaged billions of dollars in employee retirement savings by opting for...
Tag: Participant Lawsuits
Lawsuit Filed Against UnitedHealth Alleging Misuse of Forfeited 401(k) Plan Assets
The plaintiffs include four current and former employees who intend to represent more than 250,000 plan participants.
Forfeiture Lawsuit Filed Against Cigna; Intuit Reaches Settlement
The Cigna Group is the latest company accused of mismanaging the forfeited funds in its 401(k) plan, and software company...
Forfeitures Class Action Against Kaiser Foundation Dismissed
A federal judge in the Central District of California dismissed the claim that the plan sponsor’s use of forfeited assets...
Questions About Service Provider Selection Stem From Pentegra MEP Case
The jury's verdict and monetary award may serve as a warning for other situations in which plan sponsors and service...
MEP Plan Participants Win in Jury Trial Against Pentegra
A jury awarded a class of more than 25,000 employees and retirees more than $38 million.
Supreme Court Wants Solicitor General Opinion on Excessive Fee 401(k) Case
District and appellate courts have split opinions about whether the burden of proof in the excessive fee case falls on...
Lawsuits Call Attention to ESOP Cash Holdings
Plan fiduciaries have been accused of failing to prudently invest cash held in employee stock ownership plan trusts in recent...
Wells Fargo Health Plan Lawsuit Dismissed
The judge argued that the allegations were too speculative to show concrete individual harm and too conjectural to show redressability.
Lockheed Martin Sued for In-House Management of 401(k) Plan
The lawsuit alleges that Lockheed Martin used underperforming target-date funds with high fees in its 401(k) plans for the company’s...
JPMorgan Sued Over Health Plan’s Generic Drug Costs
The defendants claim the company breached its ERISA fiduciary duty by putting business interests ahead of the plan and its...
PPL Corp. Agrees to Settle Participant Lawsuit Over TDFs for $8.2M
Workers at the energy company claimed that PPL included underperforming target-date investments from Northern Trust in four of its retirement...
Verizon Settles 401(k) Complaint for $30M
The agreement is still pending court approval but would end 7-year court case.
Costco Agrees to $5.1M ERISA Case Settlement
The agreement, in which Costco admits no wrongdoing, also includes mandatory changes to the plan’s fee management process.
Principal Defeats Guaranteed Investment Contract Lawsuit in District Court
At the heart of the complaint were guaranteed investment contracts, a type of group annuity contract sold to retirement plans, issued by Principal to ERISA-covered retirement plan participants.
Voya Again Wins Dismissal of Stable Value ERISA Lawsuit
Echoing its original ruling, the district court’s second take concludes the lead plaintiff’s underlying allegations do not provide “more than a sheer possibility that a defendant has acted...
Details of Deutsche Bank ERISA Class Action Settlement Emerge
Beyond the nearly $22 million in monetary terms, the settlement agreement includes substantial prospective relief to be provided by Deutsche Bank.
With Litigation Rush, Fiduciary Insurance Adequacy Is Critical
As a result, insurers are scrutinizing potential customers more carefully, asking for extensive documentation and proof of compliance with stated policies.
General Cable Snaps Plaintiffs’ ERISA Stock Drop Claims
In this case, the alleged knowledge of an artificially high stock price was rooted in the fact that the company had not disclosed that employees of its foreign...