Jack Henry & Associates Reaches $1.6M Settlement in ERISA Class Action
The complaint alleged the company charged excessive fees and mismanaged an investment fund.
Tag: ERISA
Novo Nordisk Class Action Case Partially Dismissed
The company and its fiduciary boards could still face trial over the remaining claims regarding handling of its $1.2 billion...
401(k) Forfeiture Case Against Honeywell Dismissed, Plaintiffs Appeal
The appeal has been filed with the U.S. 3rd Circuit Court of Appeals after the lower court marked the case...
Appeals Court Revives Part of 401(k) Mismanagement Suit Against Northeast Grocery
The higher court vacated the dismissal of a prohibited transaction claim, citing the recent Supreme Court decision in Cunningham v....
Empower Sued Over ‘Deceptive’ Sales Practices, High Fees
In the complaint, plaintiffs represented by Schlichter Bogard, allege that the recordkeeper and investment company ‘mislead retirement plan participants’ to...
LabCorp Prevails in ERISA Trial, While Case Against NextEra Allowed to Proceed
Courts continue to offer mixed opinions in excessive fee and forfeiture cases, even as volume of case law builds.
Judge Allows 401(k) Forfeitures Case Against Bank of America to Proceed
As case law continues to see mixed results, U.S. District Judge Max Cogburn Jr. ruled the plaintiffs’ claims may continue,...
District Court Rejects Sentara Healthcare’s Motion to Dismiss Stable Value Investment Case
A federal judge in Virginia allowed ERISA claims to continue and ruled the plaintiffs may amend the complaint to fix...
Employer Groups Urge 4th Circuit to Reverse Decision on Lockheed Martin PRT Motion
The U.S. Chamber of Commerce, the ERISA Industry Committee and others filed an amicus brief stating that ‘speculative’ allegations should...
District Court Allows Some ERISA Claims to Proceed in Amentum-DynCorp 401(k) Lawsuit
Excessive-fee allegations survived, while complaints about improper use of forfeitures were dismissed.
Chamber of Commerce Files Brief to Distinguish Between Bonus Programs, ERISA Pension Plans
The amicus brief was joined by the ERISA Industry Committee, the Center on Executive Compensation and the American Benefits Council.
Siemens Forfeiture Case Dismissed
The company’s energy division still faces a separate complaint that was filed last week.
Complaint Alleges ERISA Breaches by Siemens Energy
The plaintiffs accuse the company of excessive recordkeeping fees and managed account charges, poor-performing funds and using forfeitures to offset...
Complaint Alleges Franklin Templeton Investments Cost Participants Millions
Three plan participants alleged 75% of the retirement plan’s $1.6 billion in assets under management was invested in poor-performing, low-rated,...
Latest Plan Forfeiture Complaint Adds New Angle
Filing after the Department of Labor’s amicus brief, Illinois plaintiffs allege that a grocery company violated its fiduciary duty by...
ERISA Complaint Alleges Mismanaged Plan Cost Participants $100M
Two former employees of Nokia North America allege that the company failed to replace poorly performing funds.
DOL Finds Citi’s Racial Equity Program Unlawful, Rescinds Previous Opinion
The Department of Labor announced its 2023 advisory opinion no longer reflects its views.
DOL Backs Companies on 401(k) Plan Forfeiture Complaints
In filing an amicus brief on an appeal involving HP Inc., the Department of Labor offered guidance on an issue...
Pentegra to Pay $48.5M Settlement in Fiduciary Breach Case
The parties agreed to a settlement higher than the $38.8 million that was included in a prior deal in April,...
Supreme Court Asks for Solicitor General Input in Parker-Hannifin 401(k) Fees Case
The case, originally filed in 2021, alleges the company violated ERISA by retaining target-date funds that were high cost and...