A federal district court in Massachusetts recently denied a motion to dismiss a complaint filed by plan participants in the Cape Cod Healthcare, Inc. 403(b) plan, which alleged that the plan’s fiduciaries breached their ERISA...more
The Eleventh Circuit Court of Appeals recently affirmed a district court’s grant of summary judgment in favor of the fiduciaries of the Home Depot 401(k) plan, who defended against claims that they breached their fiduciary...more
8/20/2024
/ 401k ,
Appeals ,
Breach of Duty ,
Burden of Proof ,
Class Action ,
Employee Retirement Income Security Act (ERISA) ,
Excessive Fees ,
Fiduciary Duty ,
Financial Adviser ,
Home Depot ,
Investment ,
Loss Causation ,
Summary Judgment
The Fifth Circuit recently reversed a district court’s dismissal of claims that the fiduciaries of a 401(k) plan breached the duty of prudence under ERISA by offering participants retail share classes instead of cheaper...more
5/9/2024
/ 401k ,
Article III ,
Class Action ,
Employee Retirement Income Security Act (ERISA) ,
Excessive Fees ,
Fees ,
Fiduciary ,
Investment ,
Recordkeeping Requirements ,
Retirement Plan ,
Reversal ,
Share Classes ,
Standing
Defense counsel frequently lament the difficulties of defending 401(k) investment and recordkeeping fee litigation when different judges render conflicting rulings on motions to dismiss seemingly indistinguishable...more
In Matousek v. MidAmerican Energy Co., 2022 WL 6880771, __ F.4th __ (8th Cir. 2022), the Eighth Circuit joined the Sixth and Seventh Circuits in affirming dismissal of ERISA breach of fiduciary duty claims alleging that the...more
10/18/2022
/ 401k ,
403(b) Plans ,
Breach of Duty ,
Class Action ,
Corporate Counsel ,
Dismissals ,
Duty of Prudence ,
Employee Retirement Income Security Act (ERISA) ,
ERISA Litigation ,
Fees ,
Fiduciary Duty ,
Investment ,
Recordkeeping Requirements
A federal district court in California granted defendants’ motion to dismiss claims asserted by Chevron 401(k) plan participants that the plan fiduciaries breached their ERISA fiduciary duties by selecting underperforming...more
9/8/2016
/ 401k ,
Breach of Duty ,
Chevron ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Excessive Fees ,
Fiduciary Duty ,
Investment ,
Investment Funds ,
Money Market Funds ,
Motion to Dismiss ,
Retirement ,
Retirement Plan