Tag: Participant Lawsuits

 An employer breached his fiduciary duties under the Employee Retirement Income Security Act (ERISA) by failing to honor a former employee’s rollover distribution request.   

 The U.S. Department of Labor (DoL) filed a lawsuit against Towson Rehabilitation Center LLC and CEO Howard Neels for failing to remit employees’ contributions to the company’s 401(k)...

Monocacyfabs Inc., of Bethlehem, Pennsylvania, has been ordered to restore $34,000 to its 401(k) plan.

An employee sued her former employer, alleging it had failed to pay her for unvested shares earned through the company's profit sharing plan. 

A federal court found the owner of a business, as trustee to its retirement plan, may be held liable for a breach of fiduciary duty related to a...

Wal-Mart Stores and Merrill Lynch have agreed to pay $13.5 million to settle a class-action lawsuit.

A court has ruled that a defined contribution plan must repay a former participant funds that were wrongly transferred to an account of his ex-spouse, even though the plan...

The Department of Labor will recover more than $7 million for former employees of USProtect Corp., a defunct company that provided security services for federal buildings across the...

Two former Bank of New York Mellon employees have filed a lawsuit on behalf of participants in BNY Mellon's 401(k) savings plan and Employee Stock Ownership Plan related...

YRC Worldwide Inc. has agreed to pay $6.5 million to settle lawsuits brought by its employees over losses in their retirement accounts from investments in company stock.

Owners of the New York Mets baseball team agreed in principle to settle a lawsuit by employees who said they lost millions of dollars in retirement money that...

In a long-running legal challenge against Kraft Foods, a federal court has denied class certification to defined contribution plan participants on their remaining claims.

AT&T has agreed to cease discriminatory policies to settle an age discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), regarding employees who took an early...

The U.S. District Court for the Eastern District of Pennsylvania has found that two doctors who voluntarily terminated their employment from a hospital are not eligible for benefits...

A California court denied a participant’s claim that a state law allows for him to receive shares of a company's non-operational employee stock ownership plan (ESOP), on grounds...

When I’m talking to plan sponsors (and advisers) about the challenges of being an ERISA fiduciary, a lot of things come to mind.

Members of Ameriprise Financial Inc.’s 401(k) plan filed a proposed class action on Wednesday claiming they lost $20 million in investments, according to published reports.

A federal appellate court has determined that employer Houston Poly Bag I, Ltd., failed to act in a participant’s best interest by withholding profit sharing plan documents and...

A federal court has dismissed all charges against Bank of America for allegedly breaching its Employee Retirement Income Security Act (ERISA) fiduciary duties by using proprietary funds in...

Another plan sponsor has prevailed in a revenue-sharing case – and at the appellate court level.