Relying on standards set forth by the Supreme Court in Fifth Third Bank v. Dudenhoeffer, an appellate court affirmed a district court’s dismissal of the case.
According to a press release on Senator Chuck Schumer’s website, the new law would create a Joint Select Committee to Solve the Multiemployer Pension Crisis.
However, a federal judge change the class definition for the imprudent investment claims because class representatives were not all invested in the funds challenged.
The complaint calls out the use of United of Omaha-branded mutual funds and target-date funds, as well as a guaranteed fund managed by United of Omaha.
In the case, the high court is asked whether an Employee Retirement Income Security Act (ERISA) claimant is barred from alleging a claim for breach of fiduciary duty...
Franklin Templeton's lawyers argued that while a Supreme Court ruling allowed the plaintiff to pursue an individual claim, he signed a waiver to not pursue class action lawsuits...
In a dense dismissal decision, the district court offers a reminder of the exacting pleading standards of ERISA and statues of limitations before roundly rejecting the plaintiff's allegations...
The underlying lawsuit will proceed and will test whether the firm acted imprudently or disloyally in discharging its discretionary fiduciary authority when including its own affiliated investment products...
Plan fiduciaries have been charged with breaching their fiduciaries duties under ERISA by selecting more expensive share classes of investments than were available to the plan.
A federal district court judge entered a judgment requiring Michael Lewis, former president of Acme Orthotics and Prosthetic Laboratories Inc., to restore $128,535.75 in losses owed to the...
The 9th Circuit ruled that a prudent fiduciary in the same circumstances as the defendants could view the proposed alternative course of action regarding company stock in Hewlett-Packard's...
Regulatory developments in Nevada and New York show inaction at the federal level on clarifying advisers’ and brokers’ fiduciary duties is leading to a patchwork of state-by-state approaches...