News & Analysis as of

Employee Retirement Income Security Act (ERISA) Hughes v. Northwestern University

Woodruff Sawyer

Excessive Fee Litigation: A New Hope

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Excessive fee class action lawsuits continued to harass plan fiduciaries and the fiduciary liability insurance market in 2022, with 88 new suits filed...more

Proskauer - Employee Benefits & Executive...

Northwestern University’s Alternative Explanations Not Strong Enough To Defeat ERISA Excessive Fee Claims

On remand from the U.S. Supreme Court, the Seventh Circuit issued its opinion in Hughes v. Northwestern University, concluding that participants in two Northwestern 403(b) plans plausibly pled fiduciary-breach claims based on...more

Proskauer - Employee Benefits & Executive...

Wisconsin District Court Rulings Signal Potential New Trend Favoring the Defense of ERISA Fee and Investment Performance Lawsuits

In a striking reversal of approach beginning in the summer of 2022, the District Court for the Eastern District of Wisconsin went from denying, in whole or in part, virtually every motion to dismiss ERISA lawsuits targeting...more

Williams Mullen

PODCAST: Williams Mullen's Benefits Companion - Court Decisions Impacting Plan Sponsors and Fiduciaries

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On this episode of Williams Mullen's Benefits Companion, host Brydon DeWitt is joined by the chair of Williams Mullen’s Employee Benefits & Executive Compensation Practice, Marc Purintun, who discusses a recent Supreme Court...more

McDermott Will & Emery

A Light in the Dark: Seventh Circuit Helps Clarify New Pleading Standards for 401(k) Fee Cases

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A recent US Court of Appeals for the Seventh Circuit case supplies answers to many questions left open in 401(k) fee litigation cases after the US Supreme Court’s ruling earlier this year in Hughes v. Northwestern University....more

Holland & Knight LLP

Circuit Courts of Appeal Uphold Dismissal of 401(k) Fee Challenges Post-Hughes

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Following the U.S. Supreme Court's decision in Hughes v. Northwestern University, courts around the country continue to articulate the pleading requirements for a breach of duty of prudence claim under the Employee Retirement...more

Fox Rothschild LLP

In ERISA Excessive Fee Cases, the Pendulum May Be Swinging Back In Favor of Plan Sponsors

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A new decision from the U.S. Court of Appeals for the 7th Circuit in a so-called “excessive fee” case is good news for plan sponsors, particularly following the Supreme Court’s ruling earlier this year in Hughes v....more

Jackson Lewis P.C.

7th Circuit Ruling Sheds Light Into the post-Hughes 401(k) Litigation Era

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Since the Supreme Court’s January ruling in Hughes v. Northwestern University, circuit courts throughout the country have issued varying rulings regarding 401(k) fee litigation cases. These include the Ninth Circuit in Trader...more

Proskauer - Employee Benefits & Executive...

Seventh Circuit Provides Hope for ERISA Plan Sponsors and Fiduciaries Defending Investment Fee & Performance Litigation

The Seventh Circuit recently provided a ray of sunshine in what has largely been a gloomy stretch for plan sponsors and fiduciaries defending ERISA breach of fiduciary duty claims based on allegedly excessive investment and...more

Fisher Phillips

SCOTUS Review: 8 Key Rulings from Last Term that Impact the Workplace and 3 Issues We’re Watching

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Many employers looked to the Supreme Court last term for clarity in cases with a significant impact on the workplace. The justices continued to shape the employment law landscape by ruling on an array of issues involving...more

Proskauer - Employee Benefits & Executive...

Defendants Secure Motion to Dismiss Victories in Three Post-Hughes Decisions

In April, we wrote here about the discouraging trend of opinions allowing commonly asserted breach of fiduciary duty claims in 401(k) and 403(b) plan investment litigation to survive motions to dismiss. While it may be too...more

Goodwin

ERISA Litigation Update - April 2022

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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

Shumaker, Loop & Kendrick, LLP

Plan Sponsors on Alert After Recent Supreme Court Decision

On January 24, 2022, the U.S. Supreme Court handed down an important decision affecting plan fiduciaries who select investment options available to participants in a self-directed employee retirement plan (such as a 401(k)...more

Patterson Belknap Webb & Tyler LLP

SCOTUS ERISA Fee Litigation Update: Hughes et al. v. Northwestern University

On January 24, 2022, in a rare, unanimous 8-0 decision (Justice Barrett recused herself from the case), the Supreme Court of the United States (the “Supreme Court”) vacated a Seventh Circuit affirmation of the dismissal of...more

Venable LLP

Supreme Court Reinstates ERISA Class Action Alleging Imprudent 403(b) Plan Management

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The Supreme Court recently issued a unanimous decision reinstating an ERISA class action against fiduciaries of Northwestern University's 403(b) retirement plans. In Hughes v. Northwestern University, the petitioners alleged...more

Holland & Knight LLP

Supreme Court Stresses Importance of Ongoing Monitoring of All ERISA Plan Investment Options

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In Hughes v. Northwestern University, current and former participants in Northwestern University's defined-contribution retirement plans filed litigation on behalf of the plans' participants asserting that the University, its...more

Dorsey & Whitney LLP

District Court Issues First Post-Northwestern University 401(k) “Fee” Decision

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Just this month, the Supreme Court issued its much anticipated decision in Northwestern University, the first time the Court has been called upon to examine a lawsuit alleging that a 401(k) plan’s investment and fees were...more

Dorsey & Whitney LLP

Supreme Court Give Plaintiffs a Narrow Win in 401(k) Fee Case

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Since the first round of cases were filed in 2006, plaintiffs’ counsel have raised hundreds of lawsuits challenging the prudence of fees and investments in 401(k) plans. One of the critical issues in those cases is what needs...more

Proskauer - Employee Benefits & Executive...

[Podcast]: Key ERISA Fee and Investment Litigation Developments and the Impact of Hughes v. Northwestern University

In this episode of The Proskauer Benefits Brief, Myron D. Rumeld, partner and co-chair of Proskauer’s ERISA Litigation group and senior associate Tulio D. Chirinos, review the current state of affairs with respect to the...more

Mintz - Employment Viewpoints

Hughes v. Northwestern University: Lessons for Retirement Committees and Other Fiduciaries

The Supreme Court recently handed down its much-anticipated decision in Hughes v. Northwestern University. The question before the Court is whether the petitioners – current and former participants in two retirement plans...more

Burns & Levinson LLP

ERISA Fiduciary Prudence Does Not Necessarily Reflect Modern Portfolio Management - ERISA Prudence And Hughes V. Northwestern...

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The U.S. Supreme Court recently heard arguments in Hughes v. Northwestern University, in which the Seventh Circuit Court of Appeals had rejected claims that the fiduciaries of two defined contribution retirement plans at...more

Epstein Becker & Green

Addressing Excessive Fee Litigation Risk in the Wake of Hughes v. Northwestern

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The Supreme Court’s January 24, 2022 decision in Hughes v. Northwestern University, has caused alarm in some corners, with panicked predictions of a proliferation of ERISA suits alleging that defined contribution plans...more

Bond Schoeneck & King PLLC

Update and Discussion on Legal and Practical Issues

In this 45 minute video, our attorneys discuss topics of interest including: COVID Update & Key Developments; 2022 NYS Budget Bill Update for Employers; Hughes v. Northwestern University & ERISA Fiduciaries; Updated (Feb 4...more

Bond Schoeneck & King PLLC

Supreme Court Considers Breach by Plan Fiduciaries

On Jan. 24, 2022, the U.S. Supreme Court reached a unanimous decision, overturning the Seventh Circuit’s dismissal of participants’ claims that fiduciaries breached their duty of prudence – sending the case back to the...more

ArentFox Schiff

Supreme Court Unanimously Vacates Seventh Circuit ERISA Investment Fees Case

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With nearly 150 similar class action lawsuits pending nationwide, the ruling is a win for the ERISA plaintiff's bar, potentially supporting their expansive view of plan fiduciaries' duty to monitor investments. As...more

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