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Second Circuit Weighs in Against ERISA Arbitration

Recently, the Second Circuit became the latest circuit refusing to enforce individual arbitration of an ERISA class action, joining the Third, Seventh, and Tenth Circuits. The Ninth Circuit, by contrast, has held that class...more

New York Federal District Court Dismisses 401(k) Fee Class Action

A New York district court recently dismissed, without prejudice, a 401(k) plan participant’s putative class action complaint alleging breaches of fiduciary duty. The plaintiff alleged that the plan fiduciary-defendants...more

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

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

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

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

Fifth Circuit: Plan Participants Lacked Standing To Bring ERISA Fiduciary Breach Claims

American Airlines, Inc. and its affiliated credit union recently defeated an appeal challenging a low-yield investment option in the airline’s 401(k) plan when the Fifth Circuit ruled that the plan participants lacked Article...more

Supreme Court Will Hear Case Challenging Retirement Plan Investment And Recordkeeper Fees

The Supreme Court recently granted the writ of certiorari requested by Northwestern University retirement plan participants, following the Solicitor General’s plea for the Court to hear the case. Hughes v. Northwestern...more

Predecessor Employer Defeats Proposed Class Action Challenging Spin Off’s Decision To Cut Benefits

In Bellon v. PPG Emp. Life & Other Benefits Plan, PPG Industries, Inc. & the PPG Plan Administrator, the Northern District of West Virginia recently addressed whether a predecessor company may be held liable for a decision...more

Tenth Circuit Affirms Damages Based On Revenue Credit, And Makes Clear That Arms-Length Service Agreements Without Evidence Of A...

On appeal following a bench trial of claims brought by a class of participants and beneficiaries of a 401(k) plan, the Tenth Circuit affirmed the decision of the District of Colorado calculating damages and prejudgment...more

Second Circuit: Investment Advisor Not Covered By Plaintiff’s Employment Arbitration Agreement

The U.S. Court of Appeals for the Second Circuit recently concluded that investment advisor Ruane Cunniff & Goldfarb must face a proposed class action under ERISA Section 502(a)(2) for breach of fiduciary duty relating to its...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

Arbitration Of ERISA Claims – Update

Some of you may remember that back in 2015, we published an article entitled Arbitration of ERISA Claims – Yes You Can! A link to that article can be found here. In that article, we suggested that one key reason for adding...more

Class Certification Granted In Goldman Sachs Gender Discrimination Litigation

In a 49-page opinion issued last week, Judge Analisa Torres of the United States District Court for the Southern District of New York granted class certification to a group of women alleging that Goldman Sachs systemically...more

Update On University Section 403(B) Cases: Inconsistent Rulings

As a result of rulings on motions to dismiss within a day of each other (May 10 and 11, 2017, respectively), Emory University and Duke University must continue to defend claims challenging aspects of their Section 403(b)...more

Disgorgement Claims Continue To Confound Courts In ERISA Class Actions

Courts continue to be split over the availability of disgorgement and “accounting for profits” in ERISA class actions involving in-house investment plans. On March 3, 2017, in Brotherston v. Putnam Investments, LLC, No....more

Another ERISA Church Plan Class Action Settles

Citing to the “significant uncertainties in predicting the outcome” of their litigation “where the critical issue is pending before the Supreme Court (oral argument on the scope of ERISA’s church plan exemption is set in...more

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