Judge Rules for Molina, flexPATH in ERISA Case
The District Court judge cited broad indexes as the appropriate benchmarks for plan TDFs in a ruling expected to be...
Tag: fiduciary breach
Colgate-Palmolive Submits Motion for Summary Judgment in Retirement Fraud Lawsuit
Legal Counsel for the Colgate-Palmolive Employee Relations Committee aim to terminate the plan sponsor's participation in a lawsuit alleging the...
American Airlines ESG Lawsuit May Move Ahead, According to Court Filing
A judge overseeing the complaint brought by a former pilot has set a potential trial date; the airline has said...
NYC Pension Funds File to Dismiss ESG-Related Lawsuit
Attorneys are seeking to dismiss allegations that retirement funds were jeopardized due to divestment from securities of fossil fuel companies....
MOVEit Hack Brings Vendor Assessment to Forefront
SPARK Institute members provide guidance on how advisers can both prepare for and respond to participant data concerns stemming from...
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...
Are Your Clients Insured Against Cyber Threats?
Experts share tips for how plan sponsors can protect themselves from the increasing threat of cybersecurity attacks and evolving litigation.
CalPERS, CalSTRS Hit By Third-Party Cybersecurity Breach
The public employee retirement systems are working to notify people with exposed accounts.
Pfizer Hit with Excessive Fee 401(k) Complaint
A former employee claims that plan fiduciaries operating the Pfizer 401(k) Savings Plan breached their ERISA duties.
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...
Sports Agency Owner Charged for Allegedly Stealing Retirement Assets
The Houston-based sports agent was served a civil suit by the Department of Labor for allegedly dipping into employee retirement...
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...
Elevator Constructors’ Union Retirement Plan Sued
Two counts for breach of fiduciary duty were brought against the defendants.
Class Settlement Approved for AAA Carolinas ERISA Lawsuit
The lawsuit alleged fiduciary breaches to retirement plan participants from high fees and underperforming investments.
Compliance News
Legislative and Judicial Actions
The DOL denies general support for private equity; the Supreme Court sends ‘Northwestern’ back to the appeals court; the PBGC...
Compliance News
Legislative and Judicial Actions
DOL issues missing participant guidance; a plan trustee is sued for an unauthorized distribution; Washington extends certain CARES Act provisions;...
SEC’s Punitive Authority Tested by Latest SCOTUS Ruling
A nearly unanimous Supreme Court has seemingly set new limits on the punitive authorities of the U.S. Securities and Exchange...
Fiduciary Fitness
Class Certification
Sometimes a plaintiff can file breach of duty claims directly.