The U.S. District Court for the Eastern District of Wisconsin has dismissed a lawsuit accusing Harley-Davidson and some of its executives of breaching fiduciary duties by continuing to offer company stock as an investment option in the company's retirement plans.
Tag: Participant Lawsuits
JPMorgan Chase & Co. cannot be held liable for mismanagement that may have occurred before the Federal Deposit Insurance Corp. seized Washington Mutual, Inc., a judge has ruled.
Small-plan 401(k) lawsuit targets three providers over allegations of excessive fees and inadequate disclosure
An employer’s move to reduce its equity holdings and increase fixed-income investments in its cash balance pension plan did not represent an illegal benefits reduction, a federal judge has ruled.
A Winona County (Minnesota) District Court judge has ruled against two unions that sued the Winona school district over the reduction of the number of vendors serving the district's 403(b) plan.
A district court has dismissed claims by retirement plan participants that Humana officials violated their fiduciary duties by holding plan assets in company stock after mistakes made in pricing Medicare Prescription Drug Plans led to decreased company earnings.
The regulatory tone is shifting in Washington, and plan advisers and their clients should be ready for changes, asserted speakers at the PLANADVISER National Conference.
Colonial Bank, a now-defunct Alabama bank company, has been hit with eight stock-drop suits over losses suffered by its pension plan when the bank was seized by regulators, according to an Associated Press report.
If you want to get a quick sense of just how fast time flies, consider that it was only a year ago this week that Lehman Brothers filed for bankruptcy.
A federal judge has dismissed a lawsuit alleging a New York state teachers group breached its fiduciary duty by paying “kickbacks” to ING Life Insurance and Annuity Co.
The 6th U.S. Circuit Court of Appeals has reopened a case in which retirees of LG Philips Displays are seeking to be reinstated with health benefits that ended after their previous employer filed bankruptcy.
A federal judge has thrown out a stock-drop lawsuit against drugmaker
Schering-Plough, but has permitted plaintiffs to strengthen its
allegations of wrongdoing and refile it.
A federal judge in Connecticut has ruled that a drug company improperly forced out its chief patent counsel after the lawyer reached age 65 in 2004.
Montgomery, Alabama-based Colonial Bank, closed by authorities in August, has been hit with a stock-drop lawsuit by a retirement plan participant.
The U.S. District Court for the Southern District of New York has ruled that participants in two retirement plans sponsored by Citigroup failed to state a claim that Citigroup breached its fiduciary duties by offering stock as an investment option.
A federal judge in Los Angeles has preliminarily approved a $55-million settlement between Bank of America (BofA) and former employees of Countrywide Financial Corp.
With a recent decision ruling in favor of a Motorola employee, federal court judges continue refining their approach to handling benefits award cases involving a conflict of interest by a plan administrator.
A federal judge approved a $17-million settlement in a stock-drop case against UnitedHealth Group.
A New York-based law firm has launched two company stock fund investigations.
The 3rd U.S. Circuit Court of Appeals has ruled that a plan administrator did not abuse its discretion in denying a disability retirement benefit payment to an employee who died before his payment application was received.