In Buckner v. Murray, No. 21-cv-567, 2024 WL 1366785 (D.D.C. Mar. 30, 2024), the court dismissed the United Mine Workers of America 1974 Pension Plan’s suit to collect $6.5 billion in withdrawal liability because the trustees...more
6/13/2024
/ Article III ,
Commercial Bankruptcy ,
Dismissals ,
Employee Retirement Income Security Act (ERISA) ,
Motion to Dismiss ,
Pensions ,
Standing ,
Trustees ,
Trusts ,
Unions ,
Withdrawal Liability
A California district court recently denied a motion to dismiss claims that the fiduciaries of a 401(k) plan breached their ERISA fiduciary duties of prudence and loyalty by selecting underperforming, high-cost investments...more
2/28/2024
/ 401k ,
Breach of Duty ,
California ,
Class Action ,
Employee Retirement Income Security Act (ERISA) ,
Excessive Fees ,
Fees ,
Fiduciary Duty ,
Financial Adviser ,
Motion to Dismiss ,
Mutual Funds
We have previously blogged on the flurry of class action lawsuits challenging 401(k) plan investments in the BlackRock LifePath Index Target Date Funds. District courts around the country—seven of them in total—have granted...more
A district court in the Southern District of Ohio and one in the Western District of Wisconsin reached opposite conclusions on motions to dismiss claims for fiduciary breach based on allegations that recordkeeping fees were...more
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
In a pair of report and recommendations issued the same day, a Magistrate Judge in Wisconsin recently recommended that the district court (i) grant motions for reconsideration of prior denials of motions to dismiss claims...more
In Baumeister v. Exelon, No. 21-cv-6505, 2022 U.S. Dist. LEXIS 176711 (N.D. Ill. Sep. 22, 2022) and Coyer v. Univar Sols. USA Inc., No. 22-cv-362, 2022 U.S. Dist. LEXIS 175972 (N.D. Ill. Sep. 28, 2022), two Illinois district...more