LAWSUITS NEWS & LEGAL INFORMATION
ERISA Violation Legal News Articles & Interviews
July 21, 2021. By Anne Wallace.
Read [ ERISA Lawsuit Alleges DuPont Underpaid Retirees ]
Wilmington, DE M.P. Moon will have another chance to persuade a Delaware federal court that DuPont and its corporate predecessors and successors cheated him and similarly situated retirees of thousands of dollars in pension benefits. His ERISA lawsuit describes years of misinformation, followed by internal procedural rules that protected DuPont from the necessity of correcting its own error.
July 9, 2021. By Anne Wallace.
Read [ Jander ERISA Lawsuit Settles, but Leaves Questions ]
New York, NY Jander v. Retirement Plans Committee of IBM, a long-running employee stock ownership lawsuit, settled on April 2, 2021 for $4.75 million. The attorneys who represented the retirement plan participants have now requested $1.4 million in fees for the latest Supreme Court phase of the case. In deciding whether to approve the fee, the Southern District of New York will consider the time and effort the lawyers expended.
June 14, 2021. By Anne Wallace.
Read [ Participants Sue Bronson Healthcare Plan over Inclusion of Fidelity Freedom Fund ]
Kalamazoo, MI On May 6, Susan Gleason and Candi Gabrielse filed a class action ERISA lawsuit against Bronson Healthcare Group Inc. in the Western District of Michigan. Gleason v. Bronson Healthcare is an example of increasingly distinctive subtype of breach of fiduciary duty lawsuits that focus on the relative cost and performance of two Fidelity investment funds, both of which were part of the Bronson Healthcare Group, Inc. 403(b) Tax Sheltered Matching Plan.
May 17, 2021. By Anne Wallace.
Read [ ERISA Lawsuit against the University of Miami Cites Excessive Fees ]
Miami, FL On April 5, the four named plaintiffs in Santiago v. University of Miami asked the Southern District of Florida to certify a class of roughly 16,000 beneficiaries of and participants in the University of Miami Savings Plan. Their ERISA lawsuit alleges that the University breached its duties of loyalty and prudence by permitting the Plan to incur unreasonable and excessive administrative fees by failing to engage in an appropriate process designed to evaluate and monitor administrative expenses.
May 10, 2021. By Anne Wallace.
Read [ KImberly-Clark 401k ERISA lawsuit Alleges Excessive Costs ]
Dallas, TX On April 15, two participants in the Kimberly-Clark Corporation 401(k) & Profit Sharing Plan filed a class action ERISA lawsuit in the federal District Court for the Northern District of Texas. Seidner v. Kimberly-Clark Corp. alleges that plan fiduciaries violated ERISA by failing to monitor plan administrative expenses, thus wasting the participants’ retirement savings and depriving them of the opportunity for investment growth over time.
April 13, 2021. By Anne Wallace.
Read [ Did Detroit Edison Mislead Retirees about Benefits? ]
Cincinnati, OH On March 23, the Sixth Circuit revived an ERISA lawsuit that alleges that Detroit Edison Co. misled plan participants about the benefits they could expect at retirement when the plan design was changed in 2002. The Appeals Court’s decision in Nolan v. Detroit Edison Co. gives the participants a fresh opportunity to show that the disclosure to participants about the plan’s conversion to a cash balance plan failed to meet basic ERISA requirements. Nolan seeks class action status.
April 2, 2021. By Anne Wallace.
Read [ Insurer May Renew Defense in Tangled ESOP Lawsuit ]
Detroit, MI On March 4, The District Court for the Eastern District of Michigan held that Great American Fidelity Insurance Co. (Great American) could renew its argument that it should not be required to defend Stout Risius Ross (Stout) against a claim by Appvion Retirement Savings and Employee Stock Ownership Plan (Appvion ESOP). Great American Fidelity Insurance Co. v. Stout Risius Ross Inc., an insurance contract claim, is one piece of the fallout from the sprawling ERISA lawsuit that includes Appvion v. Buth. The facts are complicated.
March 15, 2021. By Anne Wallace.
Read [ Federal Court Okays Class Action Status for 401k Mismanagement Lawsuit ]
Philadelphia, PA On March 8, the U.S. District Court for the Eastern District of Pennsylvania granted class action status to plaintiffs in Boley v. Universal Health Services. The ERISA lawsuit claims that fiduciaries of the Universal Health Services Inc. Retirement Savings Plan mismanaged the 401k plan in violation of ERISA.
February 8, 2021. By Anne Wallace.
Read [ Northern District of Illinois Nixes Mandatory Arbitration in ERISA Lawsuit ]
Chicago, IL On January 25, the Northern District of Illinois denied Triad Manufacturing’s attempt to force ESOP participants to individually arbitrate their claims of fiduciary self-dealing. The ERISA lawsuit, James Smith v. Board of Directors of Triad Manufacturing Inc., alleged that the Board of Directors caused the plan to buy Triad stock at an inflated price, harming retirement savers for the benefit of individual board members who were also, not coincidentally, the sellers of the stock. The Court held that plan participants may now continue to the merits of their fiduciary breach lawsuit on a class-wide basis.
January 18, 2021. By Anne Wallace.
Read [ Motion Picture Industry ERISA Plan under the Bright, Hot Lights ]
Los Angeles, CA On October 7, Patricia Klawonn filed an ERISA lawsuit against the Board of Directors for the Motion Picture Industry Pension Plans in the District Court for the Central District of California. The lawsuit alleges that The Board breached its fiduciary duty under ERISA, citing as evidence “abysmal returns [that] are the product of a fundamentally flawed investment strategy.” The Board has moved to dismiss the lawsuit, citing fundamental flaws, including a statute of limitations problem.
- SAG-AFTRA Health Plan Dumps Oldest Participants By Anne Wallace (Jan-8-21)
- “Abysmal” or “Too Conservative”? Supermarket ERISA Lawsuit to Settle for $17.5 Million By Anne Wallace (Dec-14-20)
- Lubbock National Bank to Settle ERISA Lawsuit for $2 Million By Anne Wallace (Nov-5-20)
- Court Greenlights Class Action Status for Home Depot 401k ERISA Lawsuit By Anne Wallace (Oct-22-20)
- OSF Church Plan Participants Settle for “ERISA Lite” By Anne Wallace (Oct-11-20)
- ERISA Lawsuit Targets ESOP Scam By Anne Wallace (Sep-21-20)
- Biogen ERISA Lawsuit Slams 401k Fiduciaries for Poor Investments, High Costs By Anne Wallace (Sep-10-20)
- 3 Lessons for Plaintiffs in 401k Fiduciary Mismanagement Lawsuits By Anne Wallace (Aug-10-20)
- California Court Rejects Dignity Health Settlement Again By Anne Wallace (Jul-8-20)
- Employee Stock Ownership Lawsuit Unmasks Brazen Corporate Fraud By Anne Wallace (Jun-18-20)
- ERISA Lawsuits Target United HealthCare Reimbursements Practices By Anne Wallace (Jun-10-20)
- Putnam Investments to Settle 401k Self-Dealing Lawsuit for $12.5 Million By Anne Wallace (May-6-20)
- JPMorgan Chase to Settle 401k Self-Dealing Lawsuit By Anne Wallace (Apr-22-20)
- BOEING DEFENDANTS IN STOCK DROP LAWSUIT CLAIM THEY WERE NOT FIDUCIARIES By Anne Wallace (Mar-31-20)
- TIAA ERISA LAWSUIT TARGETS SELF-DEALING IN LOAN ADMINISTRATION By Anne Wallace (Mar-16-20)
- Supreme Court Sends IBM Stock Drop ERISA Lawsuit Back to Second Circuit By Anne Wallace (Feb-11-20)
- Employees May Work 6 Years Longer when Employer Skims Fees off the Top of 401k Plan By Anne Wallace (Jan-22-20)
- U.S. Supreme Court to Hear Oral Arguments in ERISA Breach of Fiduciary Duty Lawsuit By Anne Wallace (Jan-10-20)
- Dignity Health ERISA Lawsuit Inches Toward $100 Million Settlement By Anne Wallace (Dec-10-19)
- Goldman Sachs 401k Plan Participants file ERISA Lawsuit over Self-Dealing By Anne Wallace (Nov-21-19)
- Intel Corp. Investment Policy Committee v. Sulyma to shape ERISA fiduciary lawsuits By Anne Wallace (Nov-7-19)
- Did the Ninth Circuit Gut ERISA Enforcement in Schwab 401k Mismanagement Lawsuit? By Anne Wallace (Oct-21-19)
- Safeway 401k Plan to Settle ERISA lawsuit for $8.5 Million By Anne Wallace (Oct-9-19)
- Fiduciaries’ Desperate Drive to Fund Benefits Backfires By Anne Wallace (Sep-11-19)
- ERISA Lawsuit Charges Plan with Mismanaging Both High and Low Yield Investment Choices By Anne Wallace (Aug-23-19)
- Fidelity 401k Fiduciary Lawsuits Consolidated in Massachusetts By Anne Wallace (Aug-7-19)
- Dignity Health Poised to Settle ERISA Lawsuit for $100 Million By Anne Wallace (Jul-30-19)
- Forced Arbitration, Stock Drop Disputes and ACA Repeal Loom Large for ERISA Lawsuits in Latter Half of 2019 By Anne Wallace (Jul-12-19)
- Did Northrup Grumman Squander ERISA Pension Money? By Anne Wallace (Jun-5-19)
- Expert in ERISA Lawsuit Stumped by Basic Questions By Anne Wallace (May-17-19)
- President (of Yale) Can’t Dodge Deposition By Anne Wallace (May-9-19)
- Latest ERISA Lawsuit News – 401k Mismanagement Lawsuits Going Strong, New Settlement in Treatment Denial Case By Anne Wallace (Apr-26-19)
- Sickening Stock Drop Prompts Boeing 737 ERISA Lawsuit By Anne Wallace (Apr-19-19)
- Johnson & Johnson Talc Tribulations Spark ERISA Lawsuit By Anne Wallace (Mar-28-19)
- ERISA Lawsuit Claims Fidelity Investments Took Secret Kickbacks By Anne Wallace (Mar-11-19)
- Dockworkers’ ERISA Lawsuit Challenges Denial of Preapproved Benefits By Anne Wallace (Feb-14-19)
- Employee 401(k) Lawsuit Claims GE Inflated Stock Value By Anne Wallace (Jan-15-19)
- SEI Investments Company Accused of Self-Dealing in 401(k) Mismanagement Lawsuit By Anne Wallace (Dec-12-18)
- Hacks, Embezzlements, and 401(k) Mismanagement – What You Can Do to Protect Your Retirement Nest Egg By Anne Wallace (Nov-17-18)
- Fidelity Faces Self-Dealing Lawsuit over 401(k) Plan Mismanagement By Anne Wallace (Oct-18-18)