A district court in California has issued a mixed ruling in a self-dealing lawsuit filed against Schwab Retirement Plan Services and other defendants.
Tag: retirement plan lawsuits
Details in the text of the complaint explain that the stock price drop that plaintiffs say unduly harmed participants is tied to revelations that certain Johnson and Johnson products contained asbestos.
The district court had several times ruled against the firm in summary dismissal and discovery decisions—but the firm has prevailed against ERISA fiduciary breach claims after an 11 day trial.
Three Mayer Brown ERISA attorneys discuss the current litigation landscape and offer practical strategies for promoting compliance in 2019.
Both parties agreed to dismiss the litigation under Federal Rule of Civil Procedure 41(a), and each party will bear its own attorneys’ fees and expenses.
The complaint suggests Transamerica continued to offer proprietary portfolios when their rates of return were meaningfully below stated long-term benchmarks.
The text of a new ruling on GE defendants' summary dismissal motion steps through complex issues of timeliness that are being tested in other ongoing ERISA cases.
The appellate court sent a case over Intel's use of alternative investments in its target-date funds back to a lower court for review.
An appellate court has taken the rare step of overturning a successful motion to dismiss a stock drop lawsuit targeting IBM.
The court holds that bundling services or revenue sharing are common and acceptable investment industry practices that frequently inure to the benefit of ERISA plans.
The original lawsuit alleged negligence and professional malpractice by Willis Towers Watson in its actuarial work for the city; the settlement does not constitute an admission of wrongdoing.
The Department of Labor found fiduciaries failed to remit salary deferrals and loan repayments and withdrew assets from the plan trust to use for non-plan purposes.
Although the case involves an employer-provided life insurance plan, it has lessons for what constitutes a QDRO for all ERISA plans.