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Retirement Plan Supreme Court of the United States Class Action

Davis Wright Tremaine LLP

How Does the Demise of Chevron Deference Affect Employee Benefit Plans and ERISA Regulatory Actions and Litigation?

Since 1984, citation to Chevron v. Natural Resources Defense Council ("Chevron") has meant that courts should defer to an agency's interpretations of an ambiguous statute—as long as the agency's interpretation is...more

Proskauer - Employee Benefits & Executive...

Industry Coalition Unites to Support Dismissal of ERISA Fiduciary-Breach Claims Related To BlackRock Target Date Funds

The filing of a new 401(k) plan “excessive fee” or “investment underperformance” complaint is hardly “news” these days given the proliferation of suits that have been filed over the past several years. In fact, hardly a week...more

Patterson Belknap Webb & Tyler LLP

SCOTUS ERISA Fee Litigation Update: Hughes et al. v. Northwestern University

On January 24, 2022, in a rare, unanimous 8-0 decision (Justice Barrett recused herself from the case), the Supreme Court of the United States (the “Supreme Court”) vacated a Seventh Circuit affirmation of the dismissal of...more

Holland & Knight LLP

Supreme Court Stresses Importance of Ongoing Monitoring of All ERISA Plan Investment Options

Holland & Knight LLP on

In Hughes v. Northwestern University, current and former participants in Northwestern University's defined-contribution retirement plans filed litigation on behalf of the plans' participants asserting that the University, its...more

Burns & Levinson LLP

ERISA Fiduciary Prudence Does Not Necessarily Reflect Modern Portfolio Management - ERISA Prudence And Hughes V. Northwestern...

Burns & Levinson LLP on

The U.S. Supreme Court recently heard arguments in Hughes v. Northwestern University, in which the Seventh Circuit Court of Appeals had rejected claims that the fiduciaries of two defined contribution retirement plans at...more

Holland & Hart - The Benefits Dial

The Tide is High…Keep Holding On For More Retirement Plan Fee Litigation

The U.S. Supreme Court’s ruling this week in Hughes v. Northwestern University will do nothing to stem the rising tide of retirement plan fee litigation. But the ruling doesn’t mean fiduciary breach claims are more likely to...more

Bradley Arant Boult Cummings LLP

What Does the Supreme Court’s Newest Fee Decision Mean for Retirement Plans?

On January 24, the U.S. Supreme Court issued a short unanimous opinion in Hughes v. Northwestern University. The importance of the opinion will likely be modest. At a basic level, all the Supreme Court did was reinstate a...more

Miller Canfield

Important Reminder from the U.S. Supreme Court - Just Giving Plan Participants Options Is Not Enough to Satisfy the Duty of...

Miller Canfield on

KEY TAKEAWAYS - ..Plan fiduciaries have a duty of prudence to independently evaluate on an ongoing basis investments offered in a plan’s menu of options and remove any imprudent ones. ..Plan participants’ ultimate...more

Parker Poe Adams & Bernstein LLP

U.S. Supreme Court Says Retirement Plan Must Scrutinize Expenses Even if It Offers Lower-Fee Options

In recent years, participants in 401(k) and similar employer-sponsored retirement plans have filed class action suits alleging that the plans contain overly expensive investment options. On Monday, the U.S. Supreme Court...more

Jackson Lewis P.C.

Supreme Court Vacates Seventh Circuit Decision in Fee Case, But Reiterates Rigorous Pleading Standard Applies

Jackson Lewis P.C. on

Yesterday, the Supreme Court issued its unanimous decision in Hughes v. Northwestern University, No. 19-1401, just one of more than 150 similar class action suits filed around the country in the last few years. The case was...more

King & Spalding

Supreme Court Poised To Decide What Allegations Make The Grade In University Fee Case, With Broader Implications For ERISA...

King & Spalding on

Last month, the U.S. Supreme Court heard argument in an ERISA case that could have sweeping ramifications for retirement plan fiduciaries. The case—Hughes v. Northwestern University—tees up a threshold question that has...more

Jackson Lewis P.C.

Supreme Court Struggles to Apply “Twiqbal” in Retirement Plan Fee Cases

Jackson Lewis P.C. on

Monday, the Supreme Court heard oral arguments in Hughes v. Northwestern University, No. 19-1401, just one of about 150 similar class action suits filed around the country in the last few years. The case was brought by...more

ArentFox Schiff

Class Action Quarterly Update

ArentFox Schiff on

Class Actions Quarterly Update: Employee Misclassification in the Logistics Industry - The vast majority of class action litigation in the logistics industry over the past quarter, and indeed the last few years, has been...more

ArentFox Schiff

Class Actions Quarterly Update: Supreme Court

ArentFox Schiff on

The Supreme Court ruled on several cases involving class actions in the last few months. A case awaiting certiorari could dramatically change the jurisdictional requirements for plaintiffs in class actions across the country....more

Parker Poe Adams & Bernstein LLP

U.S. Supreme Court Says Mere Receipt of Plan Disclosures Does Not Provide 'Actual Knowledge' Under ERISA

Last Wednesday, a unanimous U.S. Supreme Court concluded that receipt of participant disclosures and notices does not constitute “actual knowledge” of fees, investment options, and other plan features. Actual knowledge is the...more

Dechert LLP

Three Strikes and You’re in – Supreme Court to Hear Three ERISA Cases in Upcoming Term

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The upcoming term of the U.S. Supreme Court is shaping up to be a busy one with respect to cases arising under the Employee Retirement Income Security Act of 1974 (“ERISA”). There have been other terms with multiple ERISA...more

Franczek P.C.

A Review of the Supreme Court’s 2016-2017 Term

Franczek P.C. on

This year’s Supreme Court term may be more memorable for the intrigue and political drama taking place outside the Court than the import of the decisions the Court issued. On April 10, 2017, Judge Neil Gorsuch of the Tenth...more

Foley & Lardner LLP

Supreme Court Rejects Tolling Argument for Nonnamed Class Members’ Section 11 Claims

Foley & Lardner LLP on

On June 26, 2017, the Supreme Court issued a 5-4 decision in California Public Employees’ Retirement System v. ANZ Securities, Inc., et al. (No. 16-373), holding that tolling does not apply, when a class action is pending, to...more

Mintz - Securities Litigation Viewpoints

Briefs Filed in CalPERS v. ANZ Securities

On February 27, 2017, the California Public Employees’ Retirement System (“CalPERS”) filed its brief with the Supreme Court, requesting that the Court reverse the decision of the Second Circuit and abrogate the Second...more

Dechert LLP

Financial Services Quarterly Report - Second Quarter 2016: Does the Supreme Court’s Dudenhoeffer Decision under ERISA do “More...

Dechert LLP on

Earlier this year, the U.S. Supreme Court decided the case of Amgen v. Harris, in which the Court revisited and clarified its 2014 holding in Dudenhoeffer v. Fifth Third Bancorp.2 Both cases concern the application of a...more

Laner Muchin, Ltd.

Supreme Court Emphasizes Requirements About Selecting and Monitoring Plan Investments

Laner Muchin, Ltd. on

Plan administrators, investment committees and any other plan fiduciary responsible for selectingthe investment options of an employee benefit plan subject to ERISA should take note of the recent U.S. Supreme Court ruling in...more

Proskauer Rose LLP

The ERISA Litigation Newsletter - June 2015

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Editor's Overview - In this month's newsletter, Anthony Cacace analyzes the heavily anticipated Supreme Court ruling in Tibble v. Edison Intl., 135 S. Ct. 1823 (2015), where the Court held that ERISA's fiduciary duty of...more

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