Request Legal Help Now - Free

Advertisement
LAWSUITS NEWS & LEGAL INFORMATION

Securities Legal News Articles & Interviews

View Lawyer Interviews only

Can my Employer Cut my Health Benefits after I Retire?

Can my Employer Cut my Health Benefits after I Retire? July 6, 2022. By Anne Wallace.
Rochester, NY Vollmer v. Xerox Corp., an ERISA lawsuit pending in the Western District of New York, raises a question that weighs heavily on the minds of many retirees. Can an employer offer a valuable incentive to encourage workers to retire and then unilaterally change the deal after the employee is out the door? 
Read [ Can my Employer Cut my Health Benefits after I Retire? ]

ERISA Lawsuit Alleges that ESOP Fiduciaries Cheated Participants

ERISA Lawsuit Alleges that ESOP Fiduciaries Cheated Participants May 31, 2022. By Anne Wallace.
Chicago, ILParticipants in the West Monroe Partners Employee Stock Ownership Plan (ESOP) filed a class action ERISA lawsuit claiming that the ESOP’s fiduciaries and the Trustee shortchanged them of the value of the company’s stock when West Monroe sold half the company to an outside investor. At its most elemental, the scheme described in Daly v. West Monroe Partners Inc. involved using participants’ retirement savings to enrich the company insiders. The details, however, suggest a careful plan carefully executed in several steps over almost a year.
Read [ ERISA Lawsuit Alleges that ESOP Fiduciaries Cheated Participants ]

Plaintiffs Seek Recusal of Latest Judge in Home Depot ERISA Lawsuit

Plaintiffs Seek Recusal of Latest Judge in Home Depot ERISA Lawsuit May 16, 2022. By Anne Wallace.
Atlanta, GA On April 15, plaintiffs in Pizarro v. The Home Depot asked U.S. District Judge Steven D. Grimberg to recuse himself because of his association with the Chamber of Commerce, which had filed an amicus curiae brief in support of The Home Depot in 2021. The $140 million class action ERISA lawsuit was assigned to Judge Grimberg on March 4 of this year only after Judge William M. Ray II, who had previously presided over the case, recused himself because he was about to inherit Home Depot stock. This is the fourth re-assignment sought by the plaintiffs.
Read [ Plaintiffs Seek Recusal of Latest Judge in Home Depot ERISA Lawsuit ]

Alcoa Fights Retirees’ ERISA Lawsuit over Health Benefits Plan

Alcoa Fights Retirees’ ERISA Lawsuit over Health Benefits Plan May 10, 2022. By Anne Wallace.
Evansville, IN In December 2020, Alcoa USA Corp. retirees brought an ERISA lawsuit in the Southern District of Indiana to block Alcoa’s announced plan to change the way in which it provided collectively bargained retiree health benefits. The changes at issue in Kaiser v. Alcoa USA Corp. (originally captioned Simpkins v. Alcoa USA Corp.) became effective in 2021 and affect roughly 3,000 retirees and spouses. They were made unilaterally by Alcoa, apparently without negotiating with the workers’ collective bargaining representative.
Read [ Alcoa Fights Retirees’ ERISA Lawsuit over Health Benefits Plan ]

Teamsters Sue UPS for Pension and Welfare Contributions

Teamsters Sue UPS for Pension and Welfare Contributions April 30, 2022. By Anne Wallace.
Newark, NJ On March 23, the Trustees of the Teamsters Pension Trust Fund of Philadelphia and Vicinity filed a lawsuit in federal court in New Jersey, alleging that UPS had failed to make required contributions to the pension and welfare funds for 2015. The ERISA lawsuit seeks nearly $300,000 in unpaid contributions to the two plans plus attorneys’ fees and other costs.
Read [ Teamsters Sue UPS for Pension and Welfare Contributions ]

Coca-Cola Bottler to Settle ERISA lawsuit for $3.5 Million

Coca-Cola Bottler to Settle ERISA lawsuit for $3.5 Million March 21, 2022. By Anne Wallace.
Charlotte, NC Large independent bottler, Coca-Cola Consolidated Inc., has agreed to pay $3.5 million to settle a class-action breach of fiduciary duty lawsuit that could have involved thousands of plan participants. The ERISA lawsuit was originally brought in 2020 by two participants in the Coca-Cola Consolidated, Inc. 401k Plan. Cheyenne Jones v. Coca-Cola Consolidated Inc. alleges that the plan’s administrative committee breached its fiduciary duty to participants by failing to monitor unreasonable fees and the poor performance of a risky investment option.
Read [ Coca-Cola Bottler to Settle ERISA lawsuit for $3.5 Million ]

ERISA Lawsuit Nets Nearly $9.4 Million for Plan Participants

ERISA Lawsuit Nets Nearly $9.4 Million for Plan Participants February 10, 2022. By Anne Wallace.
St. Paul, MN The U.S. Department of Labor has announced an agreement to settle Walsh v. Reliance Trust Co. that will restore nearly $9.4 million to participants in the Kurt Manufacturing Company Employee Stock Ownership Plan (ESOP). The ERISA lawsuit alleged that plan fiduciaries caused the ESOP to buy all the outstanding company stock for nearly $10 million more than it was worth. The sellers of the stock included company directors and the chairman of the board. The DOL claimed that the sellers either knew or should have known that the price was significantly inflated.
Read [ ERISA Lawsuit Nets Nearly $9.4 Million for Plan Participants ]

ERISA Lawsuit Against UnitedHealth Subsidiary Gets Class Action Status

ERISA Lawsuit Against UnitedHealth Subsidiary Gets Class Action Status January 7, 2022. By Anne Wallace.
Madison, WI On December 15, the District Court for the Western District of Wisconsin agreed that plaintiffs in a lawsuit against UMR, the benefits administrator for employer-sponsored UnitedHealth insurance plans, could proceed as a class. As many as 1,600 individuals may ultimately be included in ERISA lawsuit. This appears to have weighed heavily in the Court’s decision that Berceanu v. UMR, Inc. could proceed as a class action lawsuit.
Read [ ERISA Lawsuit Against UnitedHealth Subsidiary Gets Class Action Status ]

Bronson Healthcare to Settle Excessive Fee ERISA Lawsuit

Bronson Healthcare to Settle Excessive Fee ERISA Lawsuit December 29, 2021. By Anne Wallace.
Kalamazoo, MI Bronson Healthcare and participants in the Bronson Healthcare Group, Inc. 403(b) Tax Sheltered Matching Plan have agreed in principle to settle a proposed class action ERISA lawsuit. The lawsuit focused on the fiduciaries’ decision to include the actively-managed Fidelity Freedom Fund in the plan’s investment portfolio. Details of the proposed settlement have not been disclosed.
Read [ Bronson Healthcare to Settle Excessive Fee ERISA Lawsuit ]

University of Miami to Settle ERISA Lawsuit for $1.85 Million

University of Miami to Settle ERISA Lawsuit for $1.85 Million December 23, 2021. By Anne Wallace.
Miami, FL  On November 23, the University of Miami and participants in five of its retirement plans agreed to settle proposed class action ERISA lawsuit. The agreement provides for $1.85 million and structural safeguards to protect participants’ retirement savings in the future. The university and the plans' fiduciaries have agreed not to increase current fees for recordkeeping services in the three years after the settlement effective date. As an additional safeguard, the university will also retain an independent fiduciary.
Read [ University of Miami to Settle ERISA Lawsuit for $1.85 Million ]

Page: 1  2  3  4  5  6  7  8     Next»

Request Legal Help Now! - Free