On June 28, 2024, the Supreme Court issued a landmark ruling in Loper Bright Enterprises v. Raimondo that upends a longstanding feature of administrative law—Chevron deference. In Loper Bright, the Court expressly overruled...more
7/24/2024
/ Administrative Agencies ,
Administrative Procedure Act ,
Chevron Deference ,
Chevron v NRDC ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Government Agencies ,
Investment Management ,
Judicial Authority ,
Loper Bright Enterprises v Raimondo ,
Regulatory Authority ,
SCOTUS ,
Statutory Interpretation
Case Name and Number: Spence v. American Airlines, Inc., et al., No. 4:23-cv-00552 -
INTRODUCTION -
On June 20, 2024, Judge Reed O’Connor in the Northern District of Texas (the “court”) denied a motion for summary...more
6/27/2024
/ 401k ,
American Airlines ,
Breach of Duty ,
Class Action ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Environmental Social & Governance (ESG) ,
Fiduciary ,
Fiduciary Duty ,
Investment Management ,
Retirement Plan
On April 3, 2024, the US Department of Labor (“DOL”) published the final amendment (“Amendment”) to Prohibited Transaction Class Exemption 84-14, otherwise known as the “QPAM Exemption” (“Exemption”).1 The Exemption is...more
Case Name and Number: Spence v. American Airlines, Inc., et al., No. 4:23-cv-00552 -
Introduction -
On February 21, 2024, Judge Reed O’Connor in the Northern District of Texas (the “Court”) denied a motion to dismiss an...more
3/8/2024
/ 401k ,
American Airlines ,
Benefit Plan Sponsors ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Environmental Social & Governance (ESG) ,
ERISA Litigation ,
Fiduciary Duty ,
Fund Managers ,
Investment Funds ,
Motion to Dismiss ,
Retirement Plan
Many medical benefit plan fiduciaries contract with pharmacy benefit managers (“PBMs”) to administer the prescription drug portion of their health plans, placing the PBM in charge of day-to-day management of the programs....more