Tag: Participant Lawsuits

The Department of Labor (DOL) has obtained $80 million for participants of Sherwin-Williams’ employee stock purchase and savings plan.

A former investment adviser to the two City of Detroit pension funds pleaded guilty to his part in a pay-to-play scheme.

 Another group of participants has failed to establish standing to sue KeyCorp for claims related to its 401(k) plan’s stock holdings.   

Former employees of Jeld-Wen Inc. filed a lawsuit claiming an amendment to the firm’s employee stock ownership plan (ESOP) took away their benefits.

Bank of America has won a lawsuit alleging it violated the Employee Retirement Income Security Act (ERISA) by investing retirement plan assets in bank-affiliated funds.

A court has found Anheuser-Busch does not owe enhanced benefits to former employees who accepted employment with a company that bought an Anheuser-Busch subsidiary.

Calculations of lump sum pension benefits consider cost of living adjustments (COLA) participants would have received if they had taken an annuity at retirement.

A court ruled contributions owed to a 401(k) are not plan assets, so an employer did not breach fiduciary duties by not contributing.

Wyeth Inc. agreed to settle a class action stock drop lawsuit.

A judge approved a collective bargaining agreement between an airline and a pilots association.

The federal court system will hear a case challenging Pennsylvania’s mandatory retirement age for judges.

An omission from a retirement plan’s summary plan description (SPD) does not entitle a widow to a greater spousal benefit, a court found.

A case claiming Ameriprise Financial favored its own affiliate funds in its 401(k) investment lineup has moved forward.

A court has found that a plan fiduciary cannot discharge debt owed to the plan because of Employee Retirement Income Security Act (ERISA) violations.

Zamansky & Associates LLC is investigating the Hewlett-Packard Company’s 401(k) plan for potential violations of the Employee Retirement Income Security Act (ERISA). 

A court ruled that an informal inquiry by a plan participant about mismanagement of plan assets is protected activity under the Employee Retirement Income Security Act (ERISA).

The Department of Labor (DOL) filed a lawsuit against GreatBanc Trust Co. and Sierra Aluminum Co., alleging that stock overvaluations led to losses for Employee Stock Ownership Plan...

Trustees of the Irotas Manufacturing Co. Inc. 401(k) plan have been sentenced for embezzling $487,000 from the plan, and have been ordered to pay restitution.

Ohio Attorney General Mike DeWine announced an historic $2.43 billion settlement in a class-action lawsuit with Bank of America (BofA).

A federal appellate court ruled that an employer’s failure to keep adequate records shifts the burden of proof to the employer that it does not owe contributions to...