The Shell Oil Company, several of its executives and multiple business units of Fidelity are all named as co-defendants in a complex fiduciary breach lawsuit filed in Texas.
Repeating a number of excessive fee lawsuits filed, the complaint says the defendants did not try to “reduce the plan’s expenses or exercise appropriate judgment to scrutinize each investment...
The plaintiff in the case asked the court to to answer “whether Dudenhoeffer’s ‘context-sensitive scrutiny of a complaint’s allegations’ can be met where a court" makes certain presumptions.
FINRA says a lapse in sufficient supervision led to retirement plan clients being supplied with inaccurate investment expense ratio and performance information.
The American Federation of Musicians and Employers' Pension Fund is just the latest union multiemployer pension to appeal to the Treasury Department for permission to cut benefits.
A court disagreed with plaintiffs that CIGNA was not following orders when calculating remedies in the case, and the court has now denied a review of that decision.
Putnam had asked the high court whether the plaintiff or the defendant bears the burden of proof on loss causation under ERISA to determine “whether showing that particular...
The plaintiffs say defendants failed to utilize the lowest cost share class for many of the mutual funds within the plan, and failed to consider collective trusts, commingled...
The SEC says the firm disadvantaged certain retirement plan customers by failing to provide them with less expensive share classes for which they were eligible.
The 2nd Circuit has been asked to halt the implementation of the SEC’s Regulation Best Interest by a coalition of parties that now includes the lead sponsors of...
A judge previously found eliminating ESOP participants’ right to invest in company stock is not a violation of ERISA’s anti-cutback provisions, but forcing participants with balances greater than...
Critics of the Massachusetts fiduciary rule say it will interfere with the implementation of the SEC’s Regulation Best Interest; proponents say that’s exactly the point.
Corporate entities, such as the advisory firm suing to halt the Charles Schwab/TD Ameritrade merger on antitrust grounds, must be represented by qualified counsel.
Case documents note the settlement has only been reached after “extensive litigation, lengthy discovery and protracted arm’s-length negotiations with the assistance of a national mediator.”