News & Analysis as of

Employee Retirement Income Security Act (ERISA) Fiduciary Duty Fraud

Groom Law Group, Chartered

New Lawsuit Alleges Fiduciary Breaches by Plan Sponsor and Recordkeeper for Quarter Million Dollar Cybertheft

Brief Takeaway - As a result of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), plan sponsors and service providers across the country are bracing for a flurry of participant activity with respect to...more

Burr & Forman

If Your Retirement Plan Holds Employer Securities, Keep an Eye on the Jander Case

Burr & Forman on

“Employer securities” in retirement plans have been the source of a significant amount of litigation under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). In general, “employer securities” are...more

Locke Lord LLP

U.S. Supreme Court Remands “Stock Drop” Case Back to Second Circuit

Locke Lord LLP on

The United States Supreme Court, in a per curiam decision, declined to address whether plan participants sufficiently alleged breach of fiduciary duty claims under the Employee Retirement Income Security Act of 1974, as...more

ArentFox Schiff

Supreme Court Opinion Sheds No Light on Elusive Stock-Drop Pleading Standard

ArentFox Schiff on

In January, the Supreme Court issued its highly anticipated opinion in Retirement Plans Committee of IBM v. Jander, No. 18-1165, a case that promised to clarify the pleading standard applicable to ERISA stock-drop cases. But...more

Groom Law Group, Chartered

Supreme Court Vacates & Remands Plaintiff-Friendly Ruling in IBM “Stock Drop” Litigation

Brief Takeaway:  Plan sponsors that offer employer stock in their benefit plans can breathe a sigh of relief, as the Supreme Court vacated one of the only plaintiff-friendly rulings in ERISA “stock drop” litigation.  ...more

Holland & Hart - The Benefits Dial

E is for ERISA, That’s Good Enough for Me: Supreme Court remands IBM v. Jander back to Second Circuit

The United States Supreme Court issued a per curiam opinion on Tuesday in Retirement Plans Committee of IBM v Jander, punting back to the court of appeals the determination of whether plan fiduciaries can be liable under...more

Faegre Drinker Biddle & Reath LLP

Supreme Court Decides Retirement Plans Committee of IBM v. Jander

On January 14, 2020, the Supreme Court of the United States decided Retirement Plans Committee of IBM v. Jander, No. 18-1165, remanding the case to the Second Circuit Court of Appeals to decide whether to address the views of...more

Skadden, Arps, Slate, Meagher & Flom LLP

Supreme Court Declines To Rule on ERISA Breach of Fiduciary Duty Pleading Standard for ESOP Cases

The U.S. Supreme Court today in Retirement Plans Committee of IBM v. Jander, No. 18-1165 (2020) (per curiam), declined to resolve questions about the pleading standard for a breach of fiduciary duty claim against fiduciaries...more

Bass, Berry & Sims PLC

Chris Lazarini Comments on Fiduciary Duty in ERISA Plan Management

Bass, Berry & Sims attorney Chris Lazarini commented on a putative ERISA class action case brought against several banks and their affiliates alleging breach of fiduciary duty or for knowing participation in prohibited...more

Holland & Knight LLP

Religious Institutions Update: August 2016

Holland & Knight LLP on

When was the last time your organization reviewed your insurance policies? Not all policies are equal. Many religious organizations are underinsured. Most should have general liability, property, professional liability,...more

Morrison & Foerster LLP - Structured Products

Structured Thoughts: News for the financial services community, Volume 7, Issue 8

Brexit and Structured Products: A Framework for Considering Disclosures - The U.K.’s recent referendum to withdraw from the European Union has affected virtually all segments of the financial industry. The structured...more

King & Spalding

Court Orders Cigna to Pay Out-of-Network Surgical Claims

King & Spalding on

On June 1, 2016, the United States District Court for the Southern District of Texas ordered Cigna to pay nearly $13.7 million to Humble Surgical Hospital, LLC (“Humble”). Of the nearly $13.7 million, almost $11.4 million...more

Goodwin

Sixth Circuit Addresses Plan Assets and Limitations Issues in Holding Service Provider’s Fee Assessments Constituted Self-Dealing

Goodwin on

The Sixth Circuit held in Hi-Lex Controls, Inc. v. Blue Cross and Blue Shield of Michigan that a service provider was liable as a fiduciary under ERISA for unauthorized fees it assessed against a self-funded health plan. In...more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside The Courts - December 2012

This issue of Inside the Courts, Skadden's securities litigation newsletter, includes summaries and associated court opinions of selected noteworthy cases principally decided from July to November 2012. This edition addresses...more

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