Tag: retirement plan fees

Claims in T. Rowe Price Self-Dealing Suit Survive Motions to Dismiss

Claims that survived included fiduciaries breached their duties of loyalty and prudence in their selection and monitoring of investments, fiduciaries failed to monitor other fiduciaries, plan trustees failed to remedy actions of predecessors, and the fiduciaries engaged in prohibited transactions.

Court Finds in Favor of NYU in 403(b) Plans Lawsuit

A federal district court judge found that “while there were deficiencies in the Committee’s processes—including that several members displayed a concerning lack of knowledge relevant to the Committee’s mandate—plaintiffs have not proven that the Committee acted imprudently or that the Plans suffered losses as a result.”

Court Denies Motion to Dismiss Edward Jones Self-Dealing Suit

U.S. District Judge John A. Ross noted in his order that the arguments the defendants advance in support of dismissal are virtually identical to those raised in their original motion which was rejected by the court and, absent a new argument, he is led to the same conclusion not to dismiss the suit.

Adviser Off the Hook in NYU 403(b) Plans Case

While dismissing a new complaint in the litigation about excessive fees in NYU's 403(b) plans, a federal judge also denied summary judgment in the original complaint, moving the case forward to trial.