Delta Air Lines Charged for Excessive 401(k) Fees
The airline is accused of failing to select low cost investments and failing to use its size to negotiate cheaper investment and recordkeeping fees.
Tag: Participant Lawsuits
Expect More Varied ERISA Litigation in 2017
Aside from traditional allegations of excessive fees and mismanagement of company stock, ERISA litigation in 2016 included challenges to fund types, fiduciary processes and provider arrangements; expect more...
ERISA Lawsuit Filed Against Starwood Hotels
The case questions the hotel chain's 401(k) plan fees and investment choices.
Tibble vs Edison Still Being Fought in Federal Courts
After multiple trips through the district and appellate court systems and consideration by the Supreme Court on multiple occasions, Tibble vs Edison took another step forward today.
DOL Secures Settlement Over Improper Asset Liquidation
A Chicago-based ophthalmologist was accused by the DOL of improperly diverting money from a DB plan’s investment accounts.
ERISA Stock Drop Suit Filed Against Exxon Mobil
Misrepresentations regarding climate change caused Exxon Mobil's stock price to be artificially inflated, the compliant says.
'Church Plan' Cases to Be Heard by Supreme Court
The cases for which petitions for writs of certiorari were granted include Dignity Health v. Rollins, Saint Peter’s Healthcare System v. Kaplan and Advocate Health Care Network v....
Voya Facing Lawsuit Over Stable Value Funds
A 403(b) plan participant is claiming that Voya set crediting rates for stable value funds lower than rates of return in order to make a profit.
Stable Value Fund Suit Sent Back for Amended Complaint
A federal judge has asked for an amended complaint showing that a stable value fund provider set interest crediting rates below actual rates of return in order to...
Wells Fargo Self-Dealing Suit Questions Committee Practices
The latest example of retirement plan fee litigation questions the offering of an “easy enrollment” function that favored investment into the company’s own TDF mutual funds.
Investment in Sequoia Fund Target of Another Retirement Plan Suit
The lawsuit claims retirement plan fiduciaries breached their ERISA duties by continuing to offer the fund, because it was not diversified.
Disney Suit Over Undiversified Investment Dismissed
A federal court judge found it implausible that signs of trouble in an underlying holding of one of Disney's retirement plan mutual funds triggered a duty for fiduciaries...
Second Suit Targets Edward Jones Over Self-Dealing Claims
Edward Jones is being accused by another set of plaintiffs of favoring the investments of its “preferred partners” in its 401(k) plan, enriching the firm at the expense...
Recordkeeper Not Liable for 401(k)'s Failure to Provide Financial Audit
In addition to imposing penalties for failure to provide requested plan documents to a 401(k) participant, a federal district court found the plan filed a simplified Form 5500...
Financial Engines and Xerox Questioned in ERISA Suit
The latest ERISA lawsuit to be filed targets Xerox and Financial Engines for advice arrangements negotiated between the firms and several Ford Motor Company retirement plans.
Measured Use of 12b-1 Fees Will Continue
Advisers will certainly have heard questions from clients about the use of 12b-1 fees moving forward under the new DOL fiduciary rule; what are the experts saying?
Settlement Reached for Providence Health Church Plan Challenge
The health system agreed to pay more than $350 million to settle a lawsuit challenging its pension plan's church plan status under ERISA.
Third Wells Fargo ERISA Stock Drop Complaint Filed
Wells Fargo faces a third ERISA stock drop lawsuit in the U. S. District Court for the District of Minnesota.