LAWSUITS NEWS & LEGAL INFORMATION
ERISA Violation Legal News Articles & Interviews
March 11, 2019. By Anne Wallace.
Read [ ERISA Lawsuit Claims Fidelity Investments Took Secret Kickbacks ]
Boston, MA On February 21, 2019, Andre W. Wong, a participant in T-Mobile USA Inc.'s 401(k) plan, filed a class action ERISA lawsuit in Massachusetts District Court. The lawsuit may ultimately affect nearly every 401k plan participant in every plan that has offered investment options managed by Fidelity Investments since 2017. Wong v. FMR LLC lays out a complicated pay-to-play scheme (disarmingly and perhaps deceptively described in internal documents as “supermarket fees”).
February 14, 2019. By Anne Wallace.
Read [ Dockworkers’ ERISA Lawsuit Challenges Denial of Preapproved Benefits ]
Los Angeles, CA Delgado v. ILWU-PMA Welfare Plan, an ERISA lawsuit now pending in the U.S. District Court for the Central District of California, has more lives than a cat.
January 15, 2019. By Anne Wallace.
Read [ Employee 401(k) Lawsuit Claims GE Inflated Stock Value ]
Albany, NY On December 14, 2018, Adele Vargas filed a class action ERISA lawsuit against General Electric Company (“GE”) and Jeffrey Immelt, its former CEO. She alleges that GE improperly manipulated its earnings and inflated its stock price.
December 12, 2018. By Anne Wallace.
Read [ SEI Investments Company Accused of Self-Dealing in 401(k) Mismanagement Lawsuit ]
Philadelphia, PA On September 28, 2018, Gordon Stevens filed a class action ERISA lawsuit claiming that his employer, SEI Investments Company, forced him and other SEI 401(k) plan participants into retirement investments that made money for the company, regardless of the employees’ own best interests.
Hacks, Embezzlements, and 401(k) Mismanagement – What You Can Do to Protect Your Retirement Nest Egg
November 17, 2018. By Anne Wallace.
Read [ Hacks, Embezzlements, and 401(k) Mismanagement – What You Can Do to Protect Your Retirement Nest Egg ]
Washington, DC When asked why he robbed banks, Willie Sutton reportedly replied, “Because that’s where the money is.” Now, however, roughly $5 trillion, or a fifth of all U.S. retirement assets, sit in 401(k) accounts. Today’s Willie Suttons are there, too, as recent ERISA lawsuits and criminal prosecutions confirm.
October 18, 2018. By Anne Wallace.
Read [ Fidelity Faces Self-Dealing Lawsuit over 401(k) Plan Mismanagement ]
Boston, MA On October 10, 2018, participants in the Fidelity Retirement Savings Plan filed a class action ERISA pension plan lawsuit against the Plan’s fiduciaries. The Complaint alleges that the Plan fiduciaries breached their duties under ERISA, thus harming the Plan and its participants and beneficiaries.
October 15, 2018. By Anne Wallace.
Read [ 401(k) Lawsuit Continues against Franklin Templeton ]
San Francisco, CA An ERISA pension plan lawsuit has survived numerous procedural challenges and will proceed as a class action against investment manager Franklin Templeton. Fernandez v. Franklin Resources Inc. claims that the fiduciaries in charge of managing the Franklin Templeton 401(k) Plan breached their duty to plan participants by causing the Plan to invest in funds offered and managed by Franklin Templeton, when better-performing and lower-cost funds choices were available. The motive was to benefit Franklin Templeton’s investment management business.
September 24, 2018. By Jane Mundy.
Read [ Prosthetic Denial Lawsuits Filed against UnitedHealth Group and Anthem under ERISA ]
Santa Clara, CA: Prosthetics with a variety of microprocessors are the new “wearable technology” and they’re making headlines. Companies have designed the devices with
August 9, 2018. By Anne Wallace.
Read [ Ninth Circuit Says Pension Plan Participants Cannot be Forced to Arbitrate ]
San Francisco, CA On July 24, 2018, the Ninth Circuit held that the plaintiffs in a pension plan lawsuit could continue their legal fight as a class action, rather than having to arbitrate individually.Munro v. University of Southern California is a major victory for ERISA plan participants who were required to sign individual arbitration agreements as a condition of employment. The Court likened these ERISA lawsuits to whistle blower lawsuits–essentially viewing the plaintiffs as public prosecutors acting in defense of the pension plan itself. This is a very broad argument that may ultimately have wider legal implications.
July 9, 2018. By Anne Wallace.
Read [ Aon Hewitt Named (again) in Double-Dealing Retirement Plan Lawsuit ]
Charlotte, NC In April 2018, Benjamin Reetz filed a class action ERISA lawsuit on behalf of himself and other participants in the Lowe’s 401(k) Plan. The lawsuit claims that Aon Hewitt, the plan’s investment advisor, lined its pockets by recommending one of its own poorly performing investment funds. Lowe’s then fell down on the job by failing to catch what Aon Hewitt was doing. Wait, you think, didn’t I read this before, but was it about Home Depot or maybe Invesco?
- Invesco Accused of Treating ERISA Plan Participants as Captive Investors By Anne Wallace (Jun-13-18)
- Home Depot Employees File ERISA Class Action Lawsuit over 401(k) Mismanagement By Anne Wallace (May-9-18)
- Are Missed Contributions Considered Plan Assets Under ERISA? By Gordon Gibb (Mar-22-18)
- Plaintiffs Litigating ERISA Lawsuit v. Oracle Corp. Achieve Class Action Status By Gordon Gibb (Feb-15-18)
- Plaintiffs in Class Action ERISA Lawsuit Allege Breach of Fiduciary Duties By Gordon Gibb (Jan-23-18)
- Sears Facing 401K Class Action Lawsuit By Lucy Campbell (Jul-19-17)
- $363 Million Raised Through Sale of BP Oil Stock By Charles Benson (Sep-6-10)
- BP ERISA: What Effect Do These Lawsuits Have on Employee Benefits Plans? By Heidi Turner (Aug-31-10)
- BP Securities and BP Employee Plan Lawsuits Headed For Houston By Gordon Gibb (Aug-19-10)
- Investors Seeking Assurances That BP Stock Losses Won't Happen Again By Gordon Gibb (Aug-12-10)
- Hayward to Recieve $930,000 BP Pension By Charles Benson (Aug-5-10)
- BP ERISA: Was Company Stock a Prudent Investment? By Heidi Turner (Jul-31-10)
- BP ERISA Class-Action Lawsuit Seeks Compensation for Pension Losses By Gordon Gibb (Jul-21-10)
- Gulf Oil Spill Impacts BP Employee Pension Plan By Charles Benson (Jul-13-10)
- BP Faces Stockholder and ERISA Lawsuits By Heidi Turner (Jul-6-10)
- BP Employees Sue Over Losses By Lucy Campbell (Jun-29-10)
- BP Investigated for Potential ERISA Wrongdoing amidst Grave 401(k) Losses By Gordon Gibb (Jun-26-10)
- Attorney Greg Porter Speaks about BP ERISA By Heidi Turner (Jun-19-10)