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
In this issue of the Class Action Trends Report, Jackson Lewis attorneys look back at class action developments in 2021, including COVID-19 vaccine mandate litigation, significant procedural decisions, wage and hour suits,...more
2/16/2022
/ Arbitration Agreements ,
Biometric Information ,
Biometric Information Privacy Act ,
Class Action ,
Coronavirus/COVID-19 ,
Data Breach ,
Employee Retirement Income Security Act (ERISA) ,
Employer Mandates ,
Employment Discrimination ,
Fair Labor Standards Act (FLSA) ,
Off-Duty Employees ,
Out-of-State Employees ,
Personally Identifiable Information ,
Popular ,
Private Attorneys General Act (PAGA) ,
SCOTUS ,
Vaccinations ,
Wage and Hour ,
Website Accessibility ,
Workers' Compensation Claim
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
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
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
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
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
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
6/5/2020
/ Article III ,
Breach of Duty ,
Defined Benefit Plans ,
Duty of Loyalty ,
Duty of Prudence ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Injury-in-Fact ,
Investment Adviser ,
Mismanagement ,
Pensions ,
Plan Participants ,
Retirement Plan ,
SCOTUS ,
Standing ,
Thole v U.S. Bank
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
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
2/28/2020
/ Actual or Constructive Knowledge ,
Appeals ,
Breach of Duty ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Intel Corp. Investment Policy Committee v. Sulyma ,
Material Disclosures ,
Question of Fact ,
Reaffirmation ,
Retirement Plan ,
Retirement Plan Beneficiaries ,
Reversal ,
SCOTUS ,
Split of Authority ,
Statute of Limitations ,
Summary Judgment