LAWSUITS NEWS & LEGAL INFORMATION
Securities Legal News Articles & Interviews
December 4, 2022. By Anne Wallace.
Read [ Booz Allen Hamilton BlackRock Target Date Funds at Heart of New ERISA Lawsuit ]
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.
October 31, 2022. By Anne Wallace.
Read [ Parties to Settle 401k Fiduciary Breach Lawsuit in Reichert v. Juniper Networks, Inc. ]
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.
September 14, 2022. By Anne Wallace.
Read [ $90 Million Missing -- “Embezzlement and fraud,” cry AME Pastors in Pension Lawsuit ]
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.
August 29, 2022. By Anne Wallace.
Read [ Costco Settles Excessive Fee ERISA Lawsuit for $5.1 Million ]
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.
August 8, 2022. By Anne Wallace.
Read [ United Airlines Appears to Stiff Early Retirees ]
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.
July 18, 2022. By Anne Wallace.
Read [ Mental Health Patient Advocates Fight Wit Reversal ]
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.
July 6, 2022. By Anne Wallace.
Read [ Can my Employer Cut my Health Benefits after I Retire? ]
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?
May 31, 2022. By Anne Wallace.
Read [ ERISA Lawsuit Alleges that ESOP Fiduciaries Cheated Participants ]
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.
May 16, 2022. By Anne Wallace.
Read [ Plaintiffs Seek Recusal of Latest Judge in Home Depot ERISA Lawsuit ]
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.
May 10, 2022. By Anne Wallace.
Read [ Alcoa Fights Retirees’ ERISA Lawsuit over Health Benefits Plan ]
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.
- Teamsters Sue UPS for Pension and Welfare Contributions By Anne Wallace (Apr-30-22)
- Coca-Cola Bottler to Settle ERISA lawsuit for $3.5 Million By Anne Wallace (Mar-21-22)
- ERISA Lawsuit Nets Nearly $9.4 Million for Plan Participants By Anne Wallace (Feb-10-22)
- ERISA Lawsuit Against UnitedHealth Subsidiary Gets Class Action Status By Anne Wallace (Jan-7-22)
- Bronson Healthcare to Settle Excessive Fee ERISA Lawsuit By Anne Wallace (Dec-29-21)
- University of Miami to Settle ERISA Lawsuit for $1.85 Million By Anne Wallace (Dec-23-21)
- Rollins v. Dignity Health Creeps toward Settlement By Anne Wallace (Nov-23-21)
- District Court Greenlights ERISA Lawsuit over Firing to Avoid Severance Pay Obligation By Anne Wallace (Nov-7-21)
- Smokers Claim They Were Overcharged for Health Insurance Premiums By Anne Wallace (Oct-8-21)
- Participants Sue $1.52 Billion Baptist Health South Plan for Wasting Retirement Savings By Anne Wallace (Sep-6-21)
- YUM! Brands Recruiter Files ERISA Lawsuit over Misclassification By Anne Wallace (Aug-16-21)
- ERISA Lawsuit Alleges DuPont Underpaid Retirees By Anne Wallace (Jul-21-21)
- Jander ERISA Lawsuit Settles, but Leaves Questions By Anne Wallace (Jul-9-21)
- 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)