The Ninth Circuit, in back-to-back opinion and memorandum decisions in Dorman v. Charles Schwab Corp., overruled long-standing precedent that ERISA claims are not arbitrable. The plaintiff, a former Schwab employee, filed a...more
Dorman v. The Charles Schwab Corp. narrows the options of employees asserting breach of fiduciary duty in retirement plans. Breach of fiduciary duty claims that “arise out of” and “relate to” a 401(k) plan—including those...more
On August 20, 2019, a three-judge panel of the U.S. Court of Appeals for the Ninth Circuit issued an opinion in Dorman v. Charles Schwab Corp., overturning its 1984 position in Amaro v. Continental Can Co. that lawsuits filed...more
On September 14, 2018, the United States Court of Appeal for the Ninth Circuit affirmed the District Court’s dismissal of class claims brought by a financial advisor on behalf of itself and shareholders of a bond fund (the...more
Late last week, a California jury found Monsanto liable in the first of a series of cases accusing the Roundup weedkiller maker of causing plaintiff Dewayne Johnson’s non-Hodgkin’s lymphoma, awarding him an incredible $289...more
Charles Schwab Corporation is the latest plan provider whose 401(k) is the subject of a class action Employee Retirement Income Security Act (ERISA) lawsuit. It’s starting to feel like a game show....more
It is well recognized that only investors have standing to sue a mutual fund on behalf of a class of investors and that a fiduciary duty claim accusing fund trustees of mismanagement is the property of the fund, and not of...more