New Trends in ERISA Litigation Appeared in 2016
ERISA lawsuits against retirement plans in 2016 have included new allegations not seen before and have spread to target different...
Tag: Litigation
Starwood Hotels Accused of Multiple Fiduciary Failures
Excessive fees, revenue-sharing, lack of a stable value fund and failing to follow fund selection for participants are among accusations...
Plaintiffs Still Pushing Tibble vs Edison Through Federal Courts
After multiple trips through the district and appellate court systems and consideration by the Supreme Court on multiple occasions, Tibble...
Sponsor Settles with DOL After Bankruptcy
A plan sponsor in Chicago was accused of improperly diverting hundreds of thousands of dollars in retirement plan assets.
DC Plans Use Passive Investments for Fiduciary Ease
“If they are choosing a passive investment option simply because it is less work for them, this is not in...
Exxon Mobil Facing Retirement Plan Stock Drop Suit
The ERISA lawsuit claims Exxon Mobil plan fiduciaries should have known misrepresentations artificially inflated the price of Exxon stock.
403(b) Plan Participant Files Suit Over Voya Stable Value Funds
The suit claims Voya collects hundreds of millions of dollars annually in undisclosed compensation.
Court Allows Restatement of Claims Against Stable Value Fund Provider
A federal judge found that that New York Life provided documentation showing there was no spread between the internal rate...
Wells Fargo 401(k) Suit Challenges Use of Proprietary TDFs
The lawsuit accuses the bank of using an "easy enroll" feature to funnel funds into its TDFs, which it says...
Another Plan Challenged for Offering Sequoia Fund
The lawsuit alleges the Sequoia Fund was an imprudent investment for the retirement plan because of its high concentration in...
Court Dismisses Retirement Plan Suit Against Disney
A participant in Disney’s retirement plan alleged that fiduciaries should have dropped a fund from the plan investment menu because...
Edward Jones Sued for Second Time over Alleged Fiduciary Failures
Plaintiffs allege that Edward Jones and its officials breached their fiduciary duties failing to prudently and loyally manage the company's...
Court Imposes Hefty Penalty for Failure to Provide Documents
A federal court also determined the 401(k) plan sponsor did not provide a required independent financial audit along with its...
Fee Arrangement Between Providers Questioned in ERISA Suit
Participants in three Ford Motor Company retirement plans suggest their adviser and recordkeeper are permitting excessive fees to be charged...
Fiduciaries Failed to Follow Plan Document for ESOP Termination
A federal court has ordered the fiduciaries to restore losses to plan participants.
Participant Files Third Wells Fargo Stock Drop Suit
The third complaint suggests defendants should have pushed for disclosures that would have corrected the company stock price.
ESOP Fiduciaries Sued for Inflated Price of Stock Purchase
The overpayment caused a direct loss to the plan and constituted a prohibited transaction under the Employee Retirement Income Security...
Deutsche Bank 401(k) Self-Dealing Suit Moves Forward
A federal judge found that allegations regarding the assessment of excessive fees from which defendants stood to gain are sufficient...
5th Circuit Again Dismisses Verizon Pension Buyout Lawsuit
Reconsidering its previous decision in light of a Supreme Court ruling, the appellate court again found a lead plaintiff did...
Stock Drop Suit Targets Wells Fargo
In the new ERISA lawsuit, plaintiffs allege that plan fiduciaries knew well in advance about the problematic sales practices that...