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
Is a new wave of ERISA fiduciary litigation targeting group health plan sponsors on the horizon? There have already been a few examples of health plan fee cases, such as claims challenging the billing practice between...more
The U.S. Court of Appeals for the Eighth Circuit recently affirmed a District Court’s finding that Principal Life Insurance Company (“Principal”) did not breach its fiduciary duties regarding its stable value contract for...more
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
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
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
12/7/2021
/ Breach of Duty ,
Class Action ,
Employee Retirement Income Security Act (ERISA) ,
Excessive Fees ,
Fees ,
Fiduciary Duty ,
Investment ,
Investment Management ,
Recordkeeping Requirements ,
Retirement Plan ,
SCOTUS
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
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
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
3/8/2021
/ Arbitration ,
Arbitration Agreements ,
Breach of Duty ,
Class Action ,
Dissenting Opinions ,
Employee Retirement Income Security Act (ERISA) ,
Equitable Estoppel ,
Fiduciary Duty ,
Investment Adviser ,
Mismanagement ,
Motion to Compel ,
Performance Standards ,
Profit Sharing ,
Secretary of Labor
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
A little more than one year ago, we reported on a settlement (Cassell et al. v. Vanderbilt University, et al.) involving the alleged wrongful use of personal information belonging to retirement plan participants, claimed to...more
7/10/2020
/ 401k ,
Benefit Plan Sponsors ,
California Consumer Privacy Act (CCPA) ,
Data Privacy ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Personal Information ,
Prohibited Transactions ,
Retirement Plan ,
Shell Oil ,
Sponsors
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