Tag: Participant Lawsuits

The case accused American Airlines of including affiliated funds in its retirement plan investment lineup though they were more expensive and lower-performing than other funds.

As with similar lawsuits, the one against Brown University attacks the traditional 403(b) plan model.

The suit, Barrett vs. Pioneer Natural Resources, was filed in the U.S. District Court for the District of Colorado and calls out the firm’s offering of both stable value...

According to plaintiffs, the plan’s small size and lack of expertise allowed Nationwide to assess an unreasonable asset-based fee for recordkeeping and administration. 

The lawsuit says Waddell & Reed forced its own 401(k) plan participants to choose among an investment lineup almost exclusively made up of funds managed by the company...

This is the second lawsuit filed this month against the university regarding excessive fees in its 403(b) plan.

The lawsuit challenged fees Voya Retirement Advisors received when using Financial Engines to provide investment advice to retirement plan participants.

The underlying lawsuit accused the firm of failing to monitor an affiliate charged with overseeing a stable value fund offered as an investment option in 401(k) plans for...

Putnam was found not to have breached its duty of loyalty to its 401(k) plan participants, and the court found the plaintiffs did not prove a loss suffered...

The plan sponsor in the case was criminally prosecuted and pled guilty to embezzlement in June 2016.

In addition to alleging the St. Louis-based university allowed the plan to charge excessive fees, the lawsuit alleges the plan's loan program violated ERISA prohibited transaction rules.

Two years of litigation and negotiation later, the parties have reached a proposed agreement to settle the class action, valued at $25 million.

Selecting, retaining and failing to remove expensive group-affiliated investment options generated significant revenue for Capital Group and its subsidiaries, the lawsuit says.

The proposed class action suit includes many of the classic claims typically leveled in ERISA stock-drop litigation. 

The first of two ERISA actions filed against Northrop Grumman in a California district court has been resolved, while the second is still pending. 

Three long-time ERISA attorneys all agreed that there is just about as much retirement-focused litigation ongoing today as they have ever seen at any point in their careers.

The Supreme Court has ruled plans maintained by principal-purpose religious organizations are eligible for the church-plan exemption, whatever their origins.

U.S. District Judge Phyllis J. Hamilton in the U.S. District Court for the Northern District of California found that for repeated claims the plaintiffs failed to correct the...

A federal judge called comparisons to other funds insufficient, and noted that funneling participant investments into a default fund is normal.