Appeals Court Sets Aside Share Repurchase Disclosure Rule
The SEC could not meet a 30-day deadline to correct issues in the rule.
Tag: Company stock
SEC’s New Stock Buyback Rules Come Under Legal Challenge
The Chamber of Commerce has sued the SEC in the 5th Circuit and seeks a review of a new SEC...
Empower and E*TRADE Consolidate Stock Plan Service
The firms are brining equity compensation and retirement planning into a single user experience.
Setting Defaults and Auto-Escalations Too Low May Undermine their Power
In addition, a person invested in a stable value fund versus someone invested in a target-date fund could end up with a balance as much as 59% lower,...
Allergan Wins Stock Drop Suit Dismissal, Echoing Key SCOTUS Decision
Under the paradigm created by the Supreme Court’s ruling in a case known as Fifth-Third v. Dudenhoeffer, plaintiffs continue to have difficulty proving standing in ERISA stock drop...
Suit Disputes Inclusion of Former Parent Company Stock in DC Plan
The Phillips 66 retirement plan committee has been sued for allowing ConocoPhillips stock funds to be included in the plan's investment lineup.
Plaintiffs Fail to Meet Pleading Standards in Wells Fargo Stock Drop Suit
A federal judge dismissed a consolidated case against Wells Fargo's 401(k) plan fiduciaries.
Employer Offerings, Participant Usage of Company Stock in 401(k)s Declining
At the same time, employees in ESPPs are using company stock to address financial wellness needs.
ESOP Participants Win Case Over Failed Diversification Implementation
A court used plain language of the ESOP plan document to show the plan administrator's failure to implement participants diversification elections was "arbitrary and capricious."
Court Recommends Dismissal of ESOP Challenge Against Wilmington Trust
The judge noted that stock must be purchased at an inflated price and sold at a loss for an economic injury to occur.
Second Sears Stock Drop Suit Includes Puerto Rico Plan
As with the lawsuit filed in July, the new complaint says the defendants breached their ERISA fiduciary by retaining the company stock fund as an investment option under...
Plaintiffs in Target Stock Drop Suit Failed to Meet Pleading Standards
A court shot down several actions plaintiffs suggested Target could have taken when it knew or should have known its stock price was artificially inflated.
Aon Pulls Company Stock From 401(k) Plan
On December 1, 2017, the Aon Stock Fund will be liquidated and removed from the plan.
Sears Faces ERISA Suit Over Holding Company Stock in Retirement Plan
The complaint offers alternative actions Sears could have taken once it realized its stock was an imprudent retirement plan investment.
Trust Company Suspends Services for New ESOPs Following Lawsuit
In April, a federal judge found First Bankers Trust Services Inc. liable for causing an ESOP to overpay for shares of the company’s stock.
RJR Tobacco Once Again Beats ERISA Imprudence Claims
The latest decision in RJR vs. Tatum comes out of the 4th U.S. Circuit Court of Appeals, which has previously made multiple rulings on the long-running and procedurally complicated...
ESOP Awarded More Than $9 Million for Overpayment of Company Stock
A federal court held that First Bankers breached its fiduciary duties to the plan’s participants by failing to conduct a prudent investigation into the fair market value of...
Peabody Energy Wins Dismissal of Stock Drop Suit
The plaintiffs did not meet pleading standards set forth in Fifth Third v. Dudenhoeffer, according to a district court opinion.
Lawsuit Claims Chesapeake Energy Stock Was Imprudent 401(k) Investment
Among other things, the plaintiff alleges the plan committee ignored the numerous warning signs that Chesapeake was an imprudent investment for retirement assets, and allowed the plan to...
Investment Products and Service Launches
Schwab Partners with eShares; and USAA Deploys Military Retirement Comparison Tool.