A district court judge dismissed the case on the basis that plaintiffs had not sufficiently alleged an alternative course of action that their plan fiduciaries could have taken.
The plaintiffs say there is additional evidence for their claims, “such as incorrect reporting on mandatory Department of Labor disclosures about the amount of administrative fees paid by...
One of the defendants in the case, the trustee who oversaw a questioned ESOP buyback transaction, was at the time allegedly working as the chief financial officer of...
The plaintiffs sued for failing to seek competitive bids for recordkeeping, but admitted to not knowing the amount Trader Joe’s paid in recordkeeping fees.
The lawsuit alleges the defendants did not try to reduce the plan’s expenses or exercise appropriate judgment to scrutinize each investment option that was offered in the plan...
A federal district court in New York has refused to dismiss a lawsuit claiming the InterContinental Hotels Group owes accelerated withdrawal payments to a national union pension plan.
Among other things, the plaintiff alleged fiduciaries of the plan were imprudent in their consideration of participants’ varying interests and needs in the plan’s allocation structure and investment...
Many large national employers in the United States have seen the actions of their retirement plan fiduciaries challenged in the federal courts, the latest being Liberty Mutual.
The defendants allegedly failed to enforce an online security question routine, in turn allowing an unknown individual to steal hundreds of thousands of dollars from an Abbott Labs...
The case in one in a string of lawsuits in which plaintiffs argued the company’s 401(k) plan fees were not properly controlled and that conflicts of interest damaged...