LAWSUITS NEWS & LEGAL INFORMATION
Securities Legal News Articles & Interviews
January 7, 2022. By Anne Wallace.
Read [ ERISA Lawsuit Against UnitedHealth Subsidiary Gets Class Action Status ]
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.
December 29, 2021. By Anne Wallace.
Read [ Bronson Healthcare to Settle Excessive Fee ERISA Lawsuit ]
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.
December 23, 2021. By Anne Wallace.
Read [ University of Miami to Settle ERISA Lawsuit for $1.85 Million ]
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.
November 23, 2021. By Anne Wallace.
Read [ Rollins v. Dignity Health Creeps toward Settlement ]
Oakland, CA Rollins v. Dignity Health, a nearly nine-year old ERISA lawsuit that has been moving through the federal court system since 2013, may be one step closer to settling. The Northern District of California has preliminarily approved a deal with the addition of an additional sub-class of plaintiffs. The same court rejected proposed settlement agreements twice before on a variety of grounds. This is further toward resolution than the parties have gotten before.
November 7, 2021. By Anne Wallace.
Read [ District Court Greenlights ERISA Lawsuit over Firing to Avoid Severance Pay Obligation ]
Birmingham, AL On September 21, the District Court for the Northern District of Alabama denied AT&T’s motion to dismiss Roy Robinson’s ERISA lawsuit. Robinson v. AT&T Services, Inc alleged that the company fired Robinson to avoid paying him severance benefits. AT&T claimed that he had failed to exhaust internal company remedies before filing his lawsuit. The court’s decision does not address the merits of Robinson’s claim. It simply permits Robinson to proceed to settlement negotiations or to trial.
October 8, 2021. By Anne Wallace.
Read [ Smokers Claim They Were Overcharged for Health Insurance Premiums ]
Kansas City, MO On September 24 in Lipari-Williams v. Missouri Gaming Co., the District Court for the Western District of Missouri put off a decision about whether to grant class action certification to a group of casino workers who allege that they were overcharged for their health coverage based on their tobacco use. Their wage and benefit plan lawsuit alleges that the premium surcharge assessed under Argosy Riverside Casino’s insurance plan did not meet the requirements of the Affordable Care Act (ACA). The court granted certification to workers who brought wage claims under the Fair Labor Standards Act and Missouri state law but held off on the ERISA claims.
September 6, 2021. By Anne Wallace.
Read [ Participants Sue $1.52 Billion Baptist Health South Plan for Wasting Retirement Savings ]
Miami, FL On August17, three former participants in the Baptist Health South Florida, Inc. 403(b) Employee Retirement Plan (BHSF Plan) sued plan fiduciaries for breaching their duty of loyalty and prudence to participants and beneficiaries by paying “astronomical” management fees. The named plaintiffs in the ERISA lawsuit seek to represent more than 23,500 current and former participants.
August 16, 2021. By Anne Wallace.
Read [ YUM! Brands Recruiter Files ERISA Lawsuit over Misclassification ]
Los Angeles, CA On July 9, Tim Alders, formerly an Executive Recruiter for YUM Brands Inc. and Taco Bell Corp. filed an ERISA lawsuit alleging that the fast-food conglomerates deprived him of pension and other benefits by deliberately misclassifying him as an independent contractor, rather than an employee. Tim Alders v. YUM, Inc. is neither a standard-issue misclassification lawsuit (many of which are brought by hourly-wage workers, cheated of California wage protections) or a variation of now-familiar ERISA fiduciary breach action. Rather, it is creative combination of the two. The lawsuit makes painfully clear how much long-term contractors (even the well-paid ones) lose when they are paid as casual workers.
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.
- Participants Sue Bronson Healthcare Plan over Inclusion of Fidelity Freedom Fund By Anne Wallace (Jun-14-21)
- ERISA Lawsuit against the University of Miami Cites Excessive Fees By Anne Wallace (May-17-21)
- KImberly-Clark 401k ERISA lawsuit Alleges Excessive Costs By Anne Wallace (May-10-21)
- Did Detroit Edison Mislead Retirees about Benefits? By Anne Wallace (Apr-13-21)
- Insurer May Renew Defense in Tangled ESOP Lawsuit By Anne Wallace (Apr-2-21)
- Federal Court Okays Class Action Status for 401k Mismanagement Lawsuit By Anne Wallace (Mar-15-21)
- Northern District of Illinois Nixes Mandatory Arbitration in ERISA Lawsuit By Anne Wallace (Feb-8-21)
- Motion Picture Industry ERISA Plan under the Bright, Hot Lights By Anne Wallace (Jan-18-21)
- 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)
- Did Northrup Grumman Squander ERISA Pension Money? By Anne Wallace (Jun-5-19)
- Sickening Stock Drop Prompts Boeing 737 ERISA Lawsuit By Anne Wallace (Apr-19-19)
- ERISA Lawsuit Claims Fidelity Investments Took Secret Kickbacks By Anne Wallace (Mar-11-19)
- SEI Investments Company Accused of Self-Dealing in 401(k) Mismanagement Lawsuit By Anne Wallace (Dec-12-18)
- 401(k) Lawsuit Continues against Franklin Templeton By Anne Wallace (Oct-15-18)
- Home Depot Employees File ERISA Class Action Lawsuit over 401(k) Mismanagement By Anne Wallace (May-9-18)
- Is Fired Executive’s Case an SEC Whistleblower Lawsuit? Supreme Court to Decide By Gordon Gibb (Sep-29-17)
- SEC Fraud Whistleblower Lawsuits Fly under the Radar By Anne Wallace (Sep-20-17)
- Sears Facing 401K Class Action Lawsuit By Lucy Campbell (Jul-19-17)
- Morgan Stanley Ordered to Pay $8.6 Million By Heidi Turner (Jun-7-16)
- California Files Securities Lawsuit against Morgan Stanley By Heidi Turner (Apr-15-16)
- FINRA Bars Two Stockbrokers By Heidi Turner (Feb-17-16)
- Chipotle Faces Securities Lawsuit, among Others By Heidi Turner (Jan-25-16)
- FINRA Orders $1.9 Million Paid to Victims of Stockbroker Fraud By Heidi Turner (Dec-10-15)
- When a Car Recall Leads to a Securities Lawsuit By Heidi Turner (Nov-14-15)
- FINRA Orders More Fines Linked to Puerto Rico Bonds By Heidi Turner (Oct-29-15)
- FINRA Orders UBS to Pay Almost $3M By Heidi Turner (Sep-10-15)
- FINRA Hands Out $2.3 Million Judgment against Morgan Stanley By Heidi Turner (Aug-18-15)
- FINRA Awards Couple $16.6 Million By Heidi Turner (Jul-16-15)
- FINRA Orders Millions in Stockbroker Arbitration Rulings By Heidi Turner (Jun-5-15)
- Supreme Court Rules In Favor of Employees in ERISA Class Action By Lucy Campbell (May-18-15)
- SEC Files Securities Lawsuit By Heidi Turner (May-7-15)
- Could Rule Change Stop Stockbroker Fraud? By Heidi Turner (Apr-13-15)
- FINRA Fines Increased in 2014 By Heidi Turner (Mar-7-15)
- ERISA Lawsuit to Be Heard by Supreme Court in February By Heidi Turner (Feb-6-15)
- Report: $1.3 Billion in Top ERISA Class-Action Settlements in 2014 By Heidi Turner (Jan-8-15)
- Labor Department Wins $4.7 Million in ERISA Lawsuit By Heidi Turner (Dec-5-14)
- Supreme Court Petitioned to Hear Another ERISA Case By Heidi Turner (Nov-12-14)
- Supreme Court Agrees to Hear Stock Options Case By Heidi Turner (Oct-4-14)
- ERISA Turns 40 By Heidi Turner (Sep-17-14)