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Employee Retirement Income Security Act (ERISA) › Fiduciary Duty › Boeing

Groom Law Group, Chartered

Division of Fiduciary Duties Proves Key to Success in Stock Drop Lawsuit

Groom Law Group, Chartered on

On August 1, 2022, the United States Court of Appeals for the Seventh Circuit affirmed the lower court’s dismissal of a “stock drop” lawsuit against Boeing. The Seventh Circuit based its conclusion on the fact that an...more

Proskauer - Employee Benefits & Executive...

Delegating Fiduciary Responsibilities Related to ESOP Results in Dismissal of ERISA Stock-Drop Claims

Proskauer - Employee Benefits & Executive... on

Among the many lawsuits Boeing confronted following the disclosure of problems with the 737 Max was a class action brought by participants in the Boeing Voluntary Investment Plan who invested in the Boeing ESOP. The...more

Proskauer - Employee Benefits & Executive...

Seventh Circuit Again Grants Class Certification In Excessive Fee Case

Proskauer - Employee Benefits & Executive... on

On remand from the Seventh Circuit, a federal district court in Illinois granted class certification in a case where participants in a Boeing 401(k) plan alleged that Boeing breached its fiduciary duties under ERISA by: (i)...more

Goodwin

In Abbott, Seventh Circuit Refines Applicability of Class Action Device in Defined Contribution Challenge

Goodwin on

In its continuing analysis of when a class may be certified in a case alleging breach of fiduciary duties with respect to a defined contribution plan, the Seventh Circuit, in Abbott v. Lockheed Martin Corporation, reversed...more

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