Investment Management, Article III

District Court Partially Dismisses ERISA 401(k) Fee and Performance Claims for Lack of Standing

Proskauer - Employee Benefits & Executive... on 8/10/2021

A federal district court in New York recently granted Omnicom Group Inc.’s (“Omnicom’s”) motion to dismiss, for lack of Article III standing, claims challenging the offering of investment options in Omnicom’s 401(k) plan in...more

Fifth Circuit Holds Participants Lack Standing To Challenge Plan Investment Options

Proskauer - Employee Benefits & Executive... on 8/5/2021

The Fifth Circuit affirmed the dismissal, for lack of standing, of a fiduciary breach representative action against American Airlines and its 401(k) plan investment committee. Ortiz v. American Airlines, Inc., No. 20-10817,...more

A Look at the Current State of ERISA Class Action Litigation

Dechert LLP on 11/20/2020

This OnPoint is the first in a series that will examine important trends and developments in class action litigation under the Employee Retirement Income Security Act of 1974 (ERISA). Here, we look at the current litigation...more

8th Circuit Finds Standing in Data Breach Case but Dismisses on Pleading Deficiencies

Patterson Belknap Webb & Tyler LLP on 8/28/2017

In one of the first federal appellate court rulings following the Ninth Circuit’s decision in Robins v. Spokeo, the Eighth Circuit delivered a pyrrhic victory for customers victimized by a data breach....more

Standing And Plausibility In ERISA

Seyfarth Shaw LLP on 8/22/2017

Seyfarth Synopsis: A district court in New York has held that a plaintiff cannot assert claims against a plan in which she did not participate and cannot assert claims of fiduciary breach without plausible allegations of...more

Scottrade data breach class action case dismissed for lack of standing

Robinson+Cole Data Privacy + Security Insider on 7/25/2016

We previously reported that Scottrade was hit with a class action case within 24 hours of notifying customers of a data breach. According to the Complaint, the data compromised included the names, addresses, telephone...more