Tag: Participant Lawsuits

A federal appellate court has ruled that it can be appropriate for a class of defined contribution plan participants to sue for relief under the Employee Retirement Income...

Litigation—or more accurately, the fear of litigation—frequently serves to put us on notice.  

The number of securities lawsuits filed in 2010 edged out the record set in 2009, according to the latest quarterly review of securities litigation by insurance researcher Advisen...

After filing an amended complaint, participants of Medtronic Inc.’s retirement plan failed to convince the court that the company breached its fiduciary duties by continuing to offer company...

A federal judge in New York rejected claims that plan fiduciaries are immunized against stock drop suits if the plan mandates company stock investments; a decision not commonly...

A former employee of American International Group Inc. filed a lawsuit claiming PricewaterhouseCoopers L.L.P. was negligent in its audits of AIG and failed to pursue a claim against...

A federal judge in Pennsylvania has cleared the way for a 401(k) participant to pursue his claim that plan trustees violated their fiduciary duties.

A federal judge in Massachusetts ruled that Alcatel-Lucent USA did not breach its Employee Retirement Income Security Act (ERISA) fiduciary duties through its severance plan disclosures to four...

A 401(k) participant claimed Morgan Stanley caused significant losses to his account after his request to move money out of the stock market was not acted upon. 

A federal judge in Massachusetts has thrown out the remaining claim in a stock drop lawsuit against State Street Corp.

In an Amicus Brief, the U.S. Department of Labor said a court that cleared Home Depot of wrongdoing in a stock drop suit misinterpreted the Employee Retirement Income...

Ex-Lehman Brothers CEO Richard Fuld and other Lehman executives kept their use of Repo 105, a method of financing designed to hide billions of dollars in debt, a...

A federal judge in New Jersey said that a 401(k) participant has no legal right to sue his employer over the company’s deferral limit of 15%.

The trustee charged with liquidating Bernard Madoff's investment firm has brought a $6.4 billion suit against JPMorgan Chase.

A federal judge in Ohio tossed out a stock-drop suit against Fifth Third Bancorp, claiming it committed a fiduciary breach when company stock was included in its profit-sharing...

FirstFed Financial Corp. employees have filed a stock-drop suit alleging the bank kept company stock in its employee-stock ownership plan (ESOP) after it was no longer prudent to...

The widow of a participant in Diebold Inc.'s supplemental executive retirement plan (SERP) did not meet the plan’s definition of “spouse,” so she was not entitled to her...

A settlement of $4.5 million has been preliminarily approved by a federal court in a consolidated class action lawsuit against Diebold, Incorporated.

The U.S. District Court for the Southern District of New York ruled in favor of an employer sued for its use of a year-old stock valuation when making...

Charles Schwab notified counsel for the plaintiffs in a consolidated class action lawsuit relating to the Schwab YieldPlus Fund that it is invoking the termination provisions of the...