Tag: Participant Lawsuits

The number of Employee Retirement Income Security Act lawsuits winning class certification in 2017 far outstripped the number of suits within which class action status was denied; attorneys...

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...

The class-action suit had accused the company of making statements to artificially inflate Eaton’s stock.

The settlement includes $12 million in monetary contributions, along with mandated administrative changes and the appointment of an independent monitor for the investment lineup. 

The lawsuit alleged that defendants’ conduct cost plaintiffs and the proposed class millions of dollars needlessly expended on excessive fees and costs; however, in a short but informative...

In their lawsuit, the plaintiffs called the Fujitsu plan one of the most expensive in the country and specifically called out the design and implementation of the plan’s...

The richly detailed text of the complaint shows multiple individuals are accused of defrauding Great-West and depositing ill-gotten assets in a variety of U.S. banks, resulting in fraud...

Siding with the district court, the 3rd Circuit ruled simply that “plan participant bargaining power … is not a substantive element of a top-hat plan.”

SIFMA says it has a strong interest in clarifying the fiduciary obligations of investment managers in selecting and managing investment options in retirement plans governed by ERISA.

The lawsuit also says plan fiduciaries failed to use lower cost investment vehicles and made inadequate disclosures to participants about fees.

The plaintiffs challenge three features of the 2012 amendment: the change to the crediting rate; the introduction of potential for risk and volatility into the plan; and variations...

The self-dealing lawsuit filed against Franklin Templeton levels similar claims to other class-action challenges filed by employees of well-known financial services providers. 

The consolidated litigation alleges the firm invested its stable value funds in risky assets, causing losses to retirement plan participants.

The lawsuit concerns the offering of investment options management by General Electric Asset Management.

The original complaint accuses the plan and its administrative and investment committees of self-dealing, causing excessive fees to be charged by service providers and mismanaging the plan’s emerging...

A judge disagreed with Ford Motor Company retirement plan participants that Xerox is a fiduciary because it had discretion over the amount of compensation it received from Financial...

Panelists at the 2017 PLANADVISER National Conference discuss the state of litigation in the retirement plan industry and lessons learned by decisions.

Interpreting and applying a series of detailed recommendations from a magistrate judge, the district court will allow some parts of the litigation against MIT’s retirement plan fiduciaries to...

The Phillips 66 retirement plan committee has been sued for allowing ConocoPhillips stock funds to be included in the plan's investment lineup.