ESOP Participants’ Breach Claims Not Supported
Participants in an ESOP that purchased shares with a loan from the sponsoring employer made allegations that were not backed...
Tag: Litigation
Intel Lawsuit Questions Custom Target-Date Fund Construction
The lawsuit also hints that certain “best practices,” in part, resulted in many participants being improperly invested.
Fiduciaries Ordered to Restore Withheld 401(k) Contributions
A construction company ceased operations in 2013 and has not paid 401(k) participants their plan assets, according to a lawsuit.
Participants Sue Allianz Retirement Plan Fiduciaries
A lawsuit filed by two participants in an Allianz retirement plan claims the company and its asset management partners, including...
Nearly $1M Left in Abandoned 401(k)
The DOL says a defunct company started plan termination procedures, but failed to complete the termination before ceasing operations.
DOL Accuses ESOP Fiduciaries of Prohibited Transactions
A lawsuit says BAT Masonry was valued at $13 million less than what its ESOP paid for company stock.
DOL Seeks More than $1.6M in Losses for Profit Sharing Plan
A health care company filed no annual reports, did not perform valuations and took more than $1.6 million in improper...
Boeing Settles ‘Spano’ Fee Case
Plaintiffs’ attorney in the case confirms provisional settlement has been reached in class action filed on behalf of 190,000 Boeing...
Whistleblowers Remedied Following ERISA Challenge
The DOL says officials at Cement Masons Southern California Trust Funds illegally retaliated against a whistleblower who flagged ERISA violations.
Court Affirms Dismissal of Verizon Pension Risk Transfer Suit
An appellate court ruled that the decisions to amend the plan and transfer certain assets to an annuity contract were...
DOL Says Company Kept Employee 401(k) Contributions
A construction company ceased operations in 2013 and has not paid 401(k) participants their plan assets, according to a lawsuit.
Trial Date Set for Boeing 401(k) Fee Case
Plaintiffs in the case allege that Boeing breached ERISA fiduciary duties by permitting excessive fees to be charged to 401(k)...
Investment Manager Held Liable for Not Diversifying Plan Assets
Fiduciaries should do everything possible to overcome perceived impediments to diversifying retirement plan assets, a judge found.
Unpaid Plan Contributions Can Be Discharged in Bankruptcy
A federal appellate court found unpaid multiemployer plan contributions are not assets of the plan, so a member employer has...
Record Companies Sued Over Pension Contributions
Several well-known music recording companies are named in a lawsuit tied to music streaming revenues and other sources of potential...
11th Circuit Reaffirms Delta Air Lines Stock Drop Victory
Circuit court sees no need to change a previous ruling in a stock drop case, reconsidered in light of the...
N.J. Supreme Court Will Consider COLAs
Retirees in New Jersey’s public pension system could see cost of living adjustments restored by the state’s Supreme Court.
DOL Sues for 401(k) Fringe Benefit Contributions
The agency says $108,000 in fringe benefit contributions were not forwarded to the Brunk Industries Contractors and Employees 401(k) Plan.
ESOP Sponsor May Have Had Heightened Duty to Disclose
A court has found questions exist about whether a privately-held company had a duty to disclose a contemplated merger to...