The short, pro-defense ruling concludes that the lead plaintiff has not exhausted all potential administrative remedies, making a lawsuit inappropriate at this juncture.
A federal judge granted Cerner’s motion to dismiss the case then reopened it on the same day, announcing the parties were to discuss a potential settlement.
It’s anyone’s guess at this early juncture whether the fiduciary breach lawsuit will fizzle, though it includes some familiar allegations from other lawsuits filed by Capozzi Adler.
Plaintiffs accused the profit sharing plan sponsor of investing too conservatively and applying an inappropriate one-size-fits-all default investment allocation for participants.
The settlement is a victory for the increasingly well-known law firm Capozzi Adler, which has filed numerous ERISA excessive fee lawsuits in the past several years.
In the years since the Supreme Court handed a decision establishing strict standards for proving standing, very few stock drop cases have made it past the motion to...
The participants claim they were mislead and intimidated to sell their shares back to the company at a price significantly lower than fair market value.
The lead plaintiff in the suit says her employer, a large financial services company, has inappropriately prioritized its own investments within a profit sharing retirement plan offered to...
A former participant in the Allstate 401(k) plan accuses plan fiduciaries of keeping poorly performing target-date funds on the investment menu and as the plan's default investment.
The Employees’ Retirement System of the City of Milwaukee says the investment managers' failure to follow the promised investment strategy of the funds resulted in massive losses.
The lawsuit contends that, in most cases, the managed account service added no material value to participants, creating asset allocations 'not materially different than' those of the age...