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.
Tag: Participant Lawsuits
A Texas state district judge approved the start of a claims process for Texans who invested with a Houston company accused of scamming retired teachers, state workers, and others out of more than $20 million.
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.
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.
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.
A court ruled that participants in the First American Corp. 401(k) plan cannot be certified as a class for purposes of a suit questioning the appropriateness of maintaining company stock as an investment choice in the plan.
Class-action law firm Keller Rohrback L.L.P on Tuesday announced the settlement of a 2006 challenge to the JPMorgan cash balance plan.
ERISA’s 404(c) has long been held out by some as something of a magic talisman.
We got another verdict on those infamous revenue-sharing lawsuits last week.
Are your plans the next targets?
The Supreme Court’s recent 401(k) ruling should be a warning.
Retirement plan advisers can anticipate a continued focus on fee transparency in the coming months.