Tag: retirement plan litigation

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.”

General Cable Snaps Plaintiffs’ ERISA Stock Drop Claims

In this case, the alleged knowledge of an artificially high stock price was rooted in the fact that the company had not disclosed that employees of its foreign subsidiaries had violated the Foreign Corrupt Practices Act of 1997 by paying bribes to foreign government officials.

Rainbow ESOP Challenge Easily Beats Motions to Dismiss

Plaintiffs in the lawsuit are participants and beneficiaries of the Rainbow Disposal Co., Inc. Employee Stock Ownership Plan, who seek to restore losses to the plan and to otherwise remedy a complicated series of alleged breaches of fiduciary duty.