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Booz Allen Hamilton BlackRock Target Date Funds at Heart of New ERISA Lawsuit

Booz Allen Hamilton BlackRock Target Date Funds at Heart of New ERISA Lawsuit December 4, 2022. By Anne Wallace.
Richmond, VA On August 2, 2022, Michael Tullgren filed a class action ERISA lawsuit against Booz Allen Hamilton Inc. and fiduciaries of the company’s Capital Accumulation Plan in the Eastern District of Virginia. Tullgren v. Booz Allen Hamilton alleges that company violated its fiduciary duty under ERISA by including poorly performing BlackRock target date funds in its investment menu.
Read [ Booz Allen Hamilton BlackRock Target Date Funds at Heart of New ERISA Lawsuit ]

Parties to Settle 401k Fiduciary Breach Lawsuit in Reichert v. Juniper Networks, Inc.

Parties to Settle 401k Fiduciary Breach Lawsuit in Reichert v. Juniper Networks, Inc. October 31, 2022. By Anne Wallace.
San Jose, CA On November 11, the District Court for the Northern District of California is expected to approve a settlement in Reichert v. Juniper Networks Inc. The class action ERISA lawsuit, like many before it, alleges that the fiduciaries of the Juniper Networks, Inc. 401(k) Plan breached their legal duty to plan participants because of the way that they managed the participants’ retirement savings.
Read [ Parties to Settle 401k Fiduciary Breach Lawsuit in Reichert v. Juniper Networks, Inc. ]

$90 Million Missing -- “Embezzlement and fraud,” cry AME Pastors in Pension Lawsuit

$90 Million Missing -- “Embezzlement and fraud,” cry AME Pastors in Pension Lawsuit September 14, 2022. By Anne Wallace.
Memphis, TN  Count IX of this class-action ERISA lawsuit, alleges the “Tort of Outrage.” That, if nothing else, captures the flavor of the case.
Read [ $90 Million Missing -- “Embezzlement and fraud,” cry AME Pastors in Pension Lawsuit ]

Costco Settles Excessive Fee ERISA Lawsuit for $5.1 Million

Costco Settles Excessive Fee ERISA Lawsuit for $5.1 Million August 29, 2022. By Anne Wallace.
Green Bay, WI  The Eastern District of Wisconsin has approved a $5.1 million settlement in Soulek v. Costco Wholesale Corporation. The settlement brings to an end another ERISA lawsuit, which alleged that plan fiduciaries failed to manage employee retirement funds prudently, as required by ERISA.
Read [ Costco Settles Excessive Fee ERISA Lawsuit for $5.1 Million ]

United Airlines Appears to Stiff Early Retirees

United Airlines Appears to Stiff Early Retirees August 8, 2022. By Anne Wallace.
Chicago, IL Cast your mind back to 2020. We were staying at home, fully masked, wearing blue gloves, bleaching our kitchen counters and very worried about people living in congregate settings, like nursing homes. Needless to say, we weren’t flying anywhere. United Airlines, like all other airlines, had a powerful incentive to reduce overhead, including employee costs. Such is the background for this ERISA lawsuit.
Read [ United Airlines Appears to Stiff Early Retirees ]

Mental Health Patient Advocates Fight Wit Reversal

Mental Health Patient Advocates Fight Wit Reversal July 18, 2022. By Anne Wallace.
San Francisco, CA In 2019, the Northern District of California’s decision in Wit v. United Behavioral Health was hailed as a big win for patients seeking coverage parity for mental health disorders. But on March 22, 2022 the Ninth Circuit panel reversed the District Court’s decision. The latest twist in this ERISA lawsuit has thrown longstanding and developing law concerning mental health patients’ rights into turmoil.
Read [ Mental Health Patient Advocates Fight Wit Reversal ]

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 ]

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