Northern Trust Accused of Fiduciary Breaches Related to AutoZone 401(k)
The firm has been added as a defendant in a lawsuit that challenges the use of Prudential's GoalMaker asset allocation...
Tag: retirement plan litigation
California Educators Convinced to Roll Retirement Plan Money Into Risky Investments
The owner of a 403(b) plan administration firm and another insurance agent have been charged with multiple counts of securities...
L Brands ERISA Lawsuit May Proceed
A judge has determined the fiduciary breach lawsuit filed against the former parent company of Victoria’s Secret and Bath and...
Most Claims Move Forward in Suit Over Aon CITs in 401(k) Plan
A court refused to dismiss most claims against Aon Hewitt Investment Consultants and Centerra Group 401(k) plan fiduciaries.
Lawsuit Accuses Sponsor of DuPont Pension Plan of ‘Sleight of Hand’
Plan fiduciaries are accused of misleading participants in benefits communications and interfering with benefits by arbitrarily assigning them the status...
Chamber of Commerce Calls Out Flaws in Excessive Fee Suits
In a brief of amicus curiae filed in the suit against the Red Cross, the agency claims the suits are...
Compliance News
Legislative and Judicial Actions
Financial assistance for multiemployer plans; faith-based entities may now benefit from the public student loan forgiveness program; FINRA project examines...
Suit Over Recordkeeping Fees for PNC Financial’s Retirement Plan Dismissed
A court found that the plaintiffs did not state a plausible claim for breach of fiduciary duties. They have already...
Baptist Health South Florida Faces ERISA Excessive Fee Suit
The claims are typical of excessive fee suits, but the plaintiffs also cite language from the 403(b) plan's investment policy...
Complex Ruling Issued in Valeant Pharma-Linked ERISA Suit
The plaintiffs are employees and retirement plan participants at DST Systems who argue the defendants pursued ‘an exceptionally imprudent investment...
2nd Circuit Sends Elements of NYU ERISA Suit Back to District Court
The appellate court agreed with the plaintiffs that the lower court erred in dismissing share class-related claims and in denying...
Juniper Networks Is Latest ERISA Lawsuit Target
The claims included in the complaint, which in some respects directly contradict arguments made by other plaintiffs in related fiduciary...
Xerox Hit With ERISA Suit Alleging Excessive Fees
The complaint claims participants overpaid millions of dollars to Xerox’s recordkeeper from 2015 through 2021.
SeaWorld ERISA Lawsuit Seeks Sizable Damages
The text of the lawsuit notes the fast pace of the filing of excessive fee lawsuits against retirement plans operated...
Court Denies Dismissal of Amway ERISA Lawsuit
Among other allegations, the complaint says defendants continued to offer certain investment options despite the availability of identical or similar investment...
Law Group Argues That Court Misapplied ‘Thole’ Ruling in ERISA Case
An amicus brief filed in a case involving Universal Health Services says a district court erred when it found the...
Citgo Is Latest Large Employer Facing Actuarial Equivalence Challenge
The proposed class of plaintiffs alleges Citgo is using mortality assumptions that are at least 50 years out of date...
Participants Challenging Omnicom’s Use of Active TDF Suite See Most Claims Move Forward
A judge left until later the issue of whether passively managed funds and actively managed funds are proper comparators.
The Number of Excessive Fee Lawsuits Grew in 2021
Plan sponsors also brought D&I efforts to retirement plans and lawmakers continued to introduce retirement plan legislation, according to Janus Henderson Investors’ DC trends webinar.
10th Circuit Affirms Great-West Fee Suit Dismissal
The district court ruling in the case, now backed by an appeals court, stands out for having been filed alongside...