On July 14, 2025, we published a detailed Legal Update describing the state of the law with respect to the ongoing wave of ERISA forfeiture lawsuits. This Legal Update analyzes the material developments that we have seen over...more
Since September 2023, ERISA plaintiff’s firms have filed approximately 60 class action lawsuits challenging the longstanding practice of plan sponsors using plan forfeitures to offset their employer contributions in 401(k)...more
7/15/2025
/ 401k ,
Class Action ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Employer Contributions ,
ERISA Litigation ,
Fiduciary Duty ,
Forfeiture ,
Motion to Dismiss ,
Prohibited Transactions ,
Retirement Plan
On June 28, 2024, the Supreme Court issued a landmark ruling in Loper Bright Enterprises v. Raimondo that upends a longstanding feature of administrative law—Chevron deference. In Loper Bright, the Court expressly overruled...more
7/24/2024
/ Administrative Agencies ,
Administrative Procedure Act ,
Chevron Deference ,
Chevron v NRDC ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Government Agencies ,
Investment Management ,
Judicial Authority ,
Loper Bright Enterprises v Raimondo ,
Regulatory Authority ,
SCOTUS ,
Statutory Interpretation
Many medical benefit plan fiduciaries contract with pharmacy benefit managers (“PBMs”) to administer the prescription drug portion of their health plans, placing the PBM in charge of day-to-day management of the programs....more