ERISA Violation Legal News Articles & Interviews

St. Paul, MN On August 21, the federal District Court for the District of Minnesota dismissed – for a second time-- an ERISA lawsuit brought by participants in the Taylor Corporation’s 401k and profit-sharing plan. The decision in Fritton v. Taylor Corp. concludes that the participants did not meet the requirements of what it termed “the meaningful benchmark standard.” The District Court is not the only court to apply this standard.

Kalamazoo, MI  On June 8, Matthew Miller, a participant in the Pfizer Savings Plan, brought a class action ERISA lawsuit against fiduciaries of the plan. The lawsuit alleges that the fiduciaries breached their duties under ERISA by permitting the $22 billion plan to pay Fidelity, the plan’s recordkeeper, excessive administrative and recordkeeping fees. The key to understanding Matthew A. Miller v. Pfizer, inc., like many other lawsuits that make similar claims, is that “mega plans” can often negotiate lower prices for relatively standard services. The 55,000 participants seek damages from 2017 to the date of judgment.

Rochester, NY On June 15, plaintiffs revealed that Xerox Corp. has agreed to settle a class action ERISA lawsuit by paying the 900-retiree class $7.2 million to reimburse them for premiums paid since January 2019. In addition, Xerox committed itself to providing the retirees with premium-free medical coverage and reduced-premium dental coverage.

Rochester, NY On June 15, plaintiffs revealed that Xerox Corp. has agreed to settle a class action ERISA lawsuit by paying the 900-retiree class $7.2 million to reimburse them for premiums paid since January 2019. In addition, Xerox committed itself to providing the retirees with premium-free medical coverage and reduced-premium dental coverage.

Newark, NJ On May 9, former participants in the Asbury Carbons, Inc. Employee Stock Ownership Plan (ESOP) filed a class action ERISA lawsuit in the District of New Jersey. Lance Miller and Larry Richardson et al. v. Neil Brozen, Asbury Carbons Inc., Patrick Sook and Asbury Carbons Inc. Employee Stock Ownership Plan alleges that ESOP fiduciaries allowed Asbury Carbons, a family-owned company, to be sold to a hedge fund for much less than it was worth. The ESOP owned a significant portion of company stock, and as a result of the sale, ESOP participants lost more than half the value of their retirement savings.

Washington, DC The Department of Labor (DOL) has adopted a rule that would permit, but not require, ERISA retirement plan fiduciaries to consider environmental, social and governance (ESG) factors in making financial decisions. What is generally referred to as the “2022 rule” took effect on January 30, 2023.

Santa Clara, CA The SAG-AFTRA Health Plan has agreed to pay $15 million to settle a proposed class-action lawsuit alleging violations of the Employee Retirement Income Security Act (ERISA). The ERISA lawsuit, initially filed in 2020 by late actor and former SAG president, Ed Asner, and nine other defendants claimed that the health plan improperly denied or terminated benefits to older performers who were entitled to them.

New York, NY On October 6, 2021, when Paula Disberry submitted a claim for benefits from the Colgate-Palmolive Company Employees Savings and Investment Plan (Plan”), she discovered that $750,000 in retirement savings was gone. She’d been robbed.

St Joseph, MO On January 30, the federal district court for the Western District of Missouri gave preliminary approval to a $5.5 million settlement that will end Lipari-Williams v. Penn National Gaming, Inc. In their class action ERISA lawsuit, casino workers claimed that the company reduced their paychecks if they used tobacco in violation of ERISA, the Fair Labor Standards Act (FLSA), Missouri minimum wage laws and the Affordable Care Act (ACA). Settlement amounts will vary, but members of the ERISA class are expected to pocket roughly $370 each. Final approval of the unopposed settlement offer is expected in May.

Atlanta, GA A proposed class action claiming that Cumulus Media Inc. violated the Employee Retirement Income Security Act will settle for $1 million, subject to court approval . The complaint was filed in December 2022 against the radio broadcasting company by seven former employees who claimed the fee practices and investment selections of the company's 401(k) plan violated ERISA.