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Class Action Alleges “Scheme” by TIAA and Morningstar to Drive Participants into TIAA’s Most Profitable Funds

On August 5, three Named Plaintiffs sued TIAA and Morningstar in the S.D.N.Y., claiming Defendants engaged in a “scheme to enhance corporate profits” by counseling participants to invest in two of TIAA’s most lucrative...more

Second Circuit Revives Share-Class Claim In NYU Retirement Plan Class Action

In Sacerdote v. New York University, a class of university employees who participated in Defendant’s 403(b) plans brought ERISA breach of fiduciary duty claims against Defendant, challenging the administration of its...more

United States District Court Dismisses 401(k) Plan Recordkeeper Fee Complaint

Recently, the United States District Court for the Western District of Pennsylvania granted a Motion to Dismiss, dismissing ERISA breach of fiduciary duty claims based on excessive recordkeeping fee allegations. The district...more

Seventh Circuit Revives State Law Claims Against Executives Acting As “Dual-Hat” Fiduciaries

The Seventh Circuit ruled recently that ERISA does not preempt certain state law claims against directors and officers because ERISA’s text and purpose contemplate parallel corporate state-law liability against executives who...more

ERISA Claims: How Can Benefits Be An Employer’s Burden? [Audio]

Employers should develop and implement the most compliant and risk adverse benefits plans, but the plaintiff’s bar will still search for loopholes. Investment fees and loss, COBRA litigation and healthcare claims are only a...more

BlackRock 401(k) Plan Class Action Headed For Trial

A class action alleging that BlackRock entities favored their own proprietary funds when selecting investment options for BlackRock’s 401(k) Plan is headed for trial after Judge Haywood S. Gilliam, Jr. denied both parties’...more

Supreme Court: Plaintiffs Who Suffered No Injury Lack Standing To Sue Under ERISA

The plaintiffs’ expectations surely suffered a blow after reading the Supreme Court’s initial observation in their case: “If [the plaintiffs] were to lose this lawsuit, they would still receive the exact same monthly benefits...more

COBRA Notice Litigation: Cases Are Mushrooming And Settlements Are, Too

Imagine something as simple as a COBRA notice that complies with law, but is not identical to the Department of Labor’s (DOL) model notice, leading to six- or seven-figure class action litigation settlements? Companies in...more

The Supreme Court Defines Actual Knowledge

In a closely watched decision, Intel Corporation Investment Policy Committee v. Sulyma, Slip Op. No. 18-1116 (U.S. S. Ct., Feb. 26, 2020), construing ERISA’s three-year statute of limitations, see ERISA § 413(2), 29 U.S.C. §...more

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