Fiduciary Duty, Arm's Length Principle

Delaware Court of Chancery Rules Controlling Stockholder Gave Implied Consent to Personal Jurisdiction in Delaware on Basis of...

Dechert LLP on 4/5/2019

In a decision with potentially far-reaching implications for private equity sponsors and other controlling stockholders, the Delaware Court of Chancery expanded the potential for liability for foreign-based controllers by...more

Court Holds That Fiduciary Duties Did Not Arise In A Licensing Transaction

Winstead PC on 6/8/2017

In Jacked Up, LLC v. Sara Lee Corp., Jacked Up entered into a licensing agreement whereby Sara Lee would produce and sell energy drinks developed by Jacked Up. No. 15-11019, 2017 U.S. App. LEXIS 7311 (5th Cir. April 25,...more

Court Dismisses Fiduciary Claim Between Mortgagor and Mortgagee

Winstead PC on 5/18/2016

In Fornesa v. HSBC Bank USA, N.A., plaintiff sought a damage award against a defendant mortgagor for compensatory and punitive damages, based on alleged predatory lending practices. 2016 Bankr. LEXIS 2011 (S.D. Tex. May 13,...more

Basic-Supplemental Life Insurance Plan Pricing Structure Upheld in ERISA Class Action

Eversheds Sutherland (US) LLP on 5/5/2016

An employee benefit plan that includes an alleged subsidization component for its basic and supplemental options is neither prohibited by the Employee Retirement Income Security Act of 1974 (ERISA) nor a violation of the plan...more

Life and Annuity Series: 8th Circuit Excessive Fee Decision

WilmerHale on 1/26/2016

The 8th Circuit's recent decision on "excessive fees" under ERISA, titled McCaffree v. Principal Life, is instructive for three reasons: - First, it adds to the line of circuit court precedents holding that an insurance...more

Eighth Circuit Holds Service Provider Is Not A Plan Fiduciary In Excessive Fee Case

Proskauer - Employee Benefits & Executive... on 1/19/2016

Continuing a trend in other Circuits, the Eighth Circuit held that a service provider that was contracted to provide the 401(k) plan’s investment options does not act as an ERISA fiduciary when, consistent with the terms of a...more