Update and Discussion on Legal and Practical Issues
99 Cents Only Stores have come to terms with an excessive fee suit involving their 401(k) plan for about $749,901.01 more than their name. 99 Cents Only was sued for 1) for breach of fiduciary duties of prudence and...more
Seyfarth Synopsis: A recent decision from the Eastern District of Michigan serves as a reminder that—while courts are often quick to certify classes in ERISA cases—plaintiffs must satisfy the requirements of Rule 23 and that...more
Mutual of America 401(k) plan participants have brought a class action lawsuit against Mutual of America Life Insurance Company for alleged breach of fiduciary duty....more
In Hawkins v. Cintas Corp., No. 21-3156, __ F.4th __, 2022 WL 1236954 (6th Cir. Apr. 27, 2022), the U.S. Court of Appeals for the Sixth Circuit ruled that an arbitration clause contained in certain individual employment...more
Welcome to Goodwin’s ERISA Litigation Update. Litigation involving ERISA-governed benefits plans has exploded in recent years. Lawyers in our award-winning ERISA Litigation practice have extensive experience litigating these...more
On April 1, 2021, the Ninth Circuit became the third circuit court to conclude that a forum-selection clause in an ERISA 401(k) plan is enforceable. The Ninth Circuit thus denied a petition for mandamus seeking to overturn a...more
On October 2, 2020, the Northern District of Illinois ruled on motions to dismiss in a closely-watched cybertheft lawsuit arising out of the theft of $245,000 from a participant’s account in the Abbott Laboratories Stock...more
In a recent 5–4 decision, the U.S. Supreme Court shut the door on defined-benefit plan participants’ standing to sue under the Employee Retirement Income Security Act of 1974 (ERISA)....more
This week, this Ninth Circuit once again issued a number of opinions arising from the employment relationship. Here, we focus on two of particular interest. In the first, the Court sought to unravel whether an emergency room...more
Among the many claims brought by plaintiffs challenging investment offerings in defined contribution plans is the claim that plans should offer stable value funds in lieu of more conservative capital preservation funds, such...more
A federal district court in Illinois recently dismissed “excessive fee” and “imprudent investment” claims against the plan fiduciaries of the CareerBuilder 401(k) plan fiduciaries, relying largely on the Seventh Circuit’s...more
The U.S. Supreme Court (in Thole v. U.S. Bank N.A., available here) recently held that participants in a defined benefit pension plan who have been paid all their monthly pension benefits to date lack standing to sue for...more
In a recent 5-4 decision, the Supreme Court, in Thole v. U.S. Bank N.A., 590 U.S. __ (2020), held that participants in defined benefit pension plans lack standing to sue plan fiduciaries for allegedly imprudent plan...more
In Thole v. U.S. Bank, a 5-4 Supreme Court decision issued on June 1, the Court held that retired participants in a defined benefit pension plan lack constitutional standing to sue the plan fiduciaries for alleged breach of...more
Last week, the U.S. Supreme Court ruled on June 1, 2020 in Thole v. U.S. Bank that a participant in a defined benefit (“DB”) plan is constitutionally barred from bringing a fiduciary-breach (or similar) claim under the...more
The United States Supreme Court recently reviewed the federal constitutional standing requirements for members of a private defined-benefit pension plan who alleged that the plan trustees violated their fiduciary duties. ...more
On June 1, 2020, the United States Supreme Court, in an opinion by Justice Kavanaugh and joined by Chief Justice Roberts and Justices Alito and Gorsuch, held that plaintiffs—participants of a defined-benefit pension...more
In Thole v. U.S. Bank, N.A., the U.S. Supreme Court affirmed, in a 5-4 decision, the U.S. Court of Appeals for the Eighth Circuit's judgment that defined benefit plan participants lack standing to pursue claims of fiduciary...more
In Thole v. U.S. Bank, the Supreme Court held that defined benefit plan participants who are receiving their full pension benefit lack constitutional standing to bring a lawsuit alleging that the plan fiduciaries breached...more
Seyfarth Synopsis: The Supreme Court dismissed, prior to any discovery, claims of ERISA fiduciary breach because the plan participant-plaintiffs failed to show that the alleged breaches caused them concrete injury. ...more
In a 5-4 decision in Thole v. U.S. Bank N.A., the US Supreme Court has ruled that defined benefit plan participants lack Article III standing to sue for fiduciary breaches that do not harm the individual participants. As the...more
The U.S. Supreme Court's decision, Thole v U.S. Bank, on June 1, 2020, has limited the right of defined benefit plan participants to sue for fiduciary violations to situations in which the defined benefit plan is unable to...more
The Supreme Court of the United States has held many times that the federal courts do not have jurisdiction over a lawsuit unless the plaintiff has standing to sue under the federal Constitution. To have standing, the Court...more