Tag: Participant Lawsuits

The enforcement actions accuse two brokerage firms of “deceptive, dishonest, and unethical conduct.”

A federal judge rejected defendants’ argument that the lawsuit, filed in December 2015, was time-barred by ERIA’s various statutes of limitation.

Another participant in a Wells Fargo retirement plan is accusing the bank of breaching its fiduciary duty in the management of company stock offered as a retirement plan...

The case had been remanded back to the appellate court after the Supreme Court's decision in Spokeo, Inc.v. Robins.

The bank’s recent troubles over illegal sales practices have led retirement plan participants to file an ERISA stock drop suit, claiming plan fiduciaries continued to offer Wells stock...

The court found one executive in particular was not a fiduciary to SunTrust's DC plan.

The judge noted that the “right to a particular form of investment (e.g., investment in employer stock or securities)” is not a protected benefit under the IRC anti-cutback...

A federal judge ruled the lead plaintiff does not have standing to bring his claim because he never purchased or sold ADRs of Sanofi during the alleged period...

The lawsuit notes that the plan's fiduciary ignored multiple suggestions to hire a professional to manage the plan's investments.

A concise example of summary judgement published by the 2nd U.S. Circuit Court underscores retirement plan fiduciaries’ absolute duty to diversify and carefully administer participant assets. 

An appellate court has sent the case back to a lower court after finding that BP's ESOP participants did not meet all pleading standards set by the U.S....

ERISA Section 502(a)(3) may extend to remedy inequitable conduct pertaining to a supposed waiver of plan rights and to a breach of the general good faith standard of...

The high court has granted a stay on a lower court's mandate for Dignity Health to get its pension plan in compliance with ERISA.

A UPMC hospital system subsidiary in Altoona, Pennsylvania, filed a lawsuit claiming plan service provider CBIZ Benefits & Insurance Services made costly actuarial errors in projecting pension liabilities.

Employees of Antioch sued the company over a transaction to make the ESOP 100% employee-owned years before the company filed bankruptcy.

A new proposed class action lawsuit suggests two providers were less than forthcoming about the real breakdown of advisory fees and underlying service arrangements.