Tag: Participant Lawsuits

In the underlying complaint, the advisory firm was lumped together with the plan sponsor/recordkeeper and accused of permitting fiduciary breaches under ERISA. 

Plaintiffs in this long-running lawsuit claim J.P. Morgan's stable value funds held risky, highly leveraged assets, including mortgage-related assets.

ERISA lawsuits often see a number of rulings, appeals and modifications before reaching a final conclusion—and the matter of Barchock vs. CVS is no exception. 

In their lawsuit, the plaintiffs called the Fujitsu plan one of the most expensive in the country and specifically called out the design and implementation of the plan’s...

“The court should compel individual arbitration of [the plaintiff's] claims and, on that basis, dismiss the lawsuit, or stay the litigation pending the outcome of individual arbitration,” the...

The plaintiffs did not meet pleading standards set forth in Fifth Third v. Dudenhoeffer, according to a district court opinion.

The lawsuit contends layering of BlackRock proprietary funds within its TDFs causes excessive fees for plan participants.

Before ultimately finding plaintiffs' claims were time-barred, a judge found Putnam's mutual fund fees were reasonable and a comparison to Vanguard funds was "apples to oranges."

The plaintiffs claim the defendants breached their fiduciary duties because a prudent fiduciary would not retain the American Beacon Funds, which were created by American Airlines' parent company,...

The lawsuit claimed the defendants breached their fiduciary duties by investing a significant portion of the plans’ assets in risky and high-cost hedge fund and private equity investments...

The lawsuit says disclosures show the proprietary funds used in the DC plan lineup were far more expensive than comparable funds and underperformed their benchmarks.

Tess Gee, member in the ERISA & Employee Benefits Litigation practice at Miller & Chevalier, says the stakes are high for all sides, including the government.

The suit charges Anthem 401(k) plan fiduciaries with offering plan investments with excessive fees and paying too much for recordkeeping services, among other things.

 

A federal district court judge has granted the recommendation of a magistrate judge, to the effect that an ERISA lawsuit filed against Oracle will not be dismissed before...

The 6th Circuit said if 403(b) participants had tried to use the plan's administrative remedies for claims a plan amendment violated ERISA, it would have been futile.

An opinion handed down by The United States District Court for The Western District Of North Carolina, Charlotte Division, rules in favor of the defendant, Bank of America,...

Two lawsuits filed against the company alleging a failure to prudently manage retirement plan investment and administrative fees have survived preliminary motions to dismiss. 

The firm has been deemed liable for violations stemming from a “rushed” ESOP valuation—although some claims of wrongdoing leveled against the firm at trial were denied.

Discussion of 401(k) litigation often fails to draw important distinctions between different ERISA standards that pertain to fiduciary prudence and controlling plan costs, according to one reader of...