Tag: Participant Lawsuits

IMHO: The “Burden″ of Proof

Recently the 7th Circuit responded to requests that it reconsider its opinion in the revenue-sharing/″excessive fee″ case of Hecker v. Deere.

Anheuser-Busch Sued over QDIA Selection

Anheuser-Busch has been hit with a federal court lawsuit alleging the brewer and a trustee improperly designated an overly risky qualified default investment alternative (QDIA) for participants’ cash proceeds from a stock sale.

High Court Accepts Xerox ERISA Case for Review

U.S. Supreme Court justices have agreed to consider an appeal of a case involving the method used by the Xerox Corp. pension plan to figure out how much to offset a participant’s benefits to properly reflect distributions already taken.

7th Circuit Panel Limits Ruling’s 404(c) Effects

Faced with pressure to take another look at its February 2009 decision in a widely watched 401(k) excessive fee case, a federal appellate court has turned down the rehearing request but issued an addendum sharply limiting the earlier ruling’s scope on the issue of 404(c) protections.

Judge Says Motorola Didn’t Breach Fiduciary Duties

The U.S. District Court for the Northern District of Illinois ruled that Motorola Inc. and fiduciaries of its 401(k) plan did not breach their fiduciary duties under the Employee Retirement Income Security Act (ERISA) by continuing to offer company stock as an investment option in the plan.

Court Dismisses Aetna Securities Fraud Suit

A court dismissed a securities fraud suit accusing executives at health insurance giant Aetna Inc. of making false statements about the company's “disciplined″ pricing strategies to drive up the company's stock price in order to cash in $61 million in stock.