Wake Forest Baptist Health Settles 403(b) Suit for $3.8M
The plaintiffs filed an unopposed settlement after “hard-fought” negotiations.
Judge Rejects Proposed Class Certification in Remanded TIAA Retirement Plan Case
Given the appellate court’s ruling, the district court found no ‘single policy’ affecting all putative class participants from Washington University in St. Louis.
Judge Dismisses Excessive Fee Complaint Against HR Firm TriNet
The 2020 retirement lawsuit alleged that the plan committee did not properly monitor recordkeeper and investing fees.
Allianz Asset Management 401(k) Participants Allege Self-Dealing
Two participants in the Allianz 401(k) plan allege the asset manager maintained an all-proprietary fund lineup that included expensive, underperforming investments for the benefit of the defendants.
Xerox Has Preliminary Settlement In Excessive Fee Lawsuit
The $4.1 million settlement is pending court approval.
Judge Dismisses Charge of “Unreasonable” 401(k) Fees by Electronics-Maker Ricoh
A federal district court bounced two fiduciary breach claims brought by participants against Ricoh USA, saying plaintiffs failed “to plausibly allege the committee breached its ERISA-imposed fiduciary duty by charging unreasonable recordkeeping fees."
Insurer the Target of ERISA Lawsuit
An ERISA lawsuit against Mutual of America has alleged that 401(k) plan fiduciaries breached their duties to participants.
ERISA Lawsuit Against Associated Bank Dismissed
A Wisconsin District Court judge was unconvinced by arguments made by the plaintiffs that plan fiduciaries breached their duty to participants.
Wells Fargo Is Targeted in ERISA Lawsuit Alleging Self-Dealing
The Wells Fargo retirement plan fiduciaries are accused of engaging in prohibited transactions and breaching their fiduciary duty to participants.
Lawsuit For Wake Forest University Retirement Plan Proceeds
The judge has allowed the case to go forward and the ‘plaintiffs should be afforded an opportunity to conduct discovery.’
ERISA Suit Against Exelon Dismissed
The plaintiffs had alleged that their employer maintained expensive and low-performing investment options for plan participants.
All 3 Defendants Move to Dismiss Cybersecurity ERISA Suit
The defendants are accused of ignoring several red flags, resulting in over $750,000 being stolen from a retirement account.
Janus Henderson Sued for Allegedly Favoring Its Own Funds in Its Retirement Plan
Class action lawsuit claims firm loaded its 401(k) plan with high-fee, underperforming proprietary funds.
Plaintiffs Say 401(k) Plan Omitted Target-Date Funds Among Problems
The target of a new Employee Retirement Income Security Act is a plan sponsor with more than 20,000 participants that ‘periodically’ reviewed the plan’s investment options to ensure they were suitable, according to a complaint.
DOL’s ERISA Lawsuit Targets MEP Administrator
Kentucky mining industry plan fiduciaries face allegations that they failed to remit participant salary deferrals.
ERISA Complaint Alleges $751K Retirement Account Thievery
The entire retirement account balance of a Colgate-Palmolive retirement plan participant who lives in South Africa was distributed to a bank account in Las Vegas.
Retirement Plan Advisers Might Help Lessen ERISA Lawsuits by Adding Defensive Provisions
Humana Faces Classic Prudence Claims in New ERISA Lawsuit
According to the plaintiffs, the plan’s fiduciaries did not try to reduce the plan’s expenses, resulting in the assessment of excessive fees.
Court Returns Mixed Ruling in Schwab ERISA Self-Dealing Suit
The detailed ruling comes after Schwab defendants moved to dismiss in part the plaintiff’s second amended complaint.
Johnson and Johnson Faces Stock Drop ERISA Lawsuit
Plaintiffs allege plan fiduciaries should have known the company’s stock price was artificially inflated—and that fiduciaries breached their duties of prudence and loyalty by continuing to offer J&J stock in the retirement plan.