On Remand, ABB Wins Fund Change Case
In the long-running Tussey v. ABB lawsuit, a court found ABB breached its fiduciary duties, but a procedural error by...
Tag: Litigation
DOL Seeks Independent Fiduciary for Abandoned Plan
The plan’s recordkeeper refused to make distributions after the former plan fiduciary changed each participant’s address to his own.
9th Circuit Confirms Stock Drop Remand
The 9th U.S. Circuit Court of Appeals refused to again revisit an amended decision in a long-running and complicated stock...
SCOTUS Won't Hear Reverse Stock Drop Case
The reverse stock drop case Tatum v. RJR Pension Committee has been turned down by the Supreme Court.
World’s Largest Coal Company Faces ERISA Suit
A former employee of Peabody Energy is suing the coal producer over company stock investments in its DC plans.
DOL Sues Firm Over Company Stock Purchases
The Labor Department filed suit against a California-based manufacturer to recover millions of dollars for ESOP plan participants.
4th Circuit Revives Case Over Transfers to Cash Balance Plan
The appellate court found that Bank of America’s closing agreement with the IRS did not make the case moot.
Settlement Reached in Fannie Mae Stock Drop Suit
Affected participants will receive $9 million, less attorneys’ fees and settlement expenses.
U.S. Recommends Denial of RJR Stock Case Review
U.S. Solicitor General Donald B. Verrilli Jr. said the questions before the Supreme Court in RJR Pension Investment Committee v....
PSNC: Avoiding Lawsuits
It’s often simply a lack of oversight and processes not followed.
Documentation and Deliberation Remain Critical Post-Tibble
Two experienced ERISA attorneys suggest the Tibble fee case ruling is a positive for retirement plan sponsors—highlighting important best practices...
Increased Litigation Not Necessarily the Result of Tibble
Some have taken the Supreme Court’s decision in Tibble vs. Edison as paving the way for increased litigation based on...
Considerations for Retirement Plan Sponsors after Tibble Ruling
The U.S. Supreme Court has taken a modest step to ensure the fiduciary “duty to monitor” retirement plan investments is...
Supreme Court Reaches Decision in Tibble v. Edison
The Supreme Court has vacated and remanded the specifics in the Tibble v. Edison fee case, but its decision seems to...
DOL Sues Bank for Excessive Retirement Plan Fees
A lawsuit says City National Profit Sharing Plan fiduciaries engaged in self-dealing and conflicted transactions.
Court Finds Fraud in Failure to Investigate Participant Concern
A retirement plan participant questioned his projected retirement benefit and a plan representative assured him it was correct, without further...
Calmer Perspectives on Tibble Fee Case
Despite enormous industry attention paid to the case, some attorneys say a pending Supreme Court decision in the Tibble vs....
Real Estate Services Firm Settles Stock Drop Case
LandAmerica Financial Group will pay $5 million to settle claims it held company stock in its 401(k) plan when it...
Fiduciaries to Pay $485K for Failing to Forward Payroll Deductions
The DOL sued retirement plan fiduciaries in Connecticut for failing to forward contributions and loan repayments withheld from participants’ paychecks...
Rhode Island Reaches Pension Accord With Some Unions
If approved, a proposed settlement will end litigation from six challenges that arose from changes made to Rhode Islands’ public...