In Singh v. Deloitte LLP, et al., No. 23-1108, 2024 WL 5049345 (2d Cir. Dec. 10, 2024), the Second Circuit Court of Appeals upheld a district court’s dismissal of a complaint alleging that plan fiduciaries caused an...more
1/16/2025
/ 401k ,
Appeals ,
Benefit Plan Sponsors ,
Compliance ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
ERISA Litigation ,
Fiduciary Duty ,
Plan Participants ,
Pleading Standards ,
Retirement Plan
On October 4, 2024, the Supreme Court granted certiorari in Cunningham v. Cornell University. The case involves the standard for a plaintiff to plead a “prohibited transaction” claim under ERISA and the burden of proving...more
In an August 2, 2024, decision in Pizarro v. The Home Depot, Inc., No. 22-13643 (11th Cir. Aug. 2, 2024), the Eleventh Circuit reaffirmed its position — and the position of the majority of federal circuit courts to address...more
In Rose v. PSA Airlines, Inc., 80 F.4th 488 (4th Cir. 2023), the U.S. Court of Appeals for the Fourth Circuit held that ERISA § 502(a)(3), which permits a claim for “other appropriate equitable relief,” does not allow claims...more
In an ERISA case for wrongful denial of health insurance benefits, the U.S. Court of Appeals for the Fourth Circuit addressed when a plaintiff may recover monetary relief under §§ 502(a)(1)(B) and (a)(3). The Fourth Circuit...more
Recently, several appellate-level court decisions have affirmed dismissals of ERISA fiduciary-breach claims involving 401(k) plans. These decisions followed the Supreme Court’s decision earlier this year in a 403(b) case, in...more
On July 27, 2022, Faegre Drinker filed an amicus brief on behalf of The ESOP Association in the pending Ninth Circuit appeal in Walsh v. Bowers, et al. The brief supports an award of attorneys’ fees and costs against the...more
Enforcement of an ERISA plan’s arbitration provision has become a hotly litigated issue. Plaintiffs and courts often raise two objections to arbitration provisions in ERISA plans, including ESOPs. The first is whether...more
Last week, the Supreme Court issued its anticipated ruling in the ERISA fiduciary-breach class action Hughes v. Northwestern. In its unanimous decision, the Court vacated the Seventh Circuit’s dismissal of the case and sent...more
On December 21, 2021, the Department of Labor (DOL) issued additional guidance on the use of private equity investments in certain retirement plans, warning that most plan fiduciaries will not have enough experience to...more
A recent Sixth Circuit Court of Appeals decision serves as a warning to policyholders: read your entire policy, understand each provision and confirm that the policy language accurately reflects your understanding of the...more
The board of directors of Bowers + Kubota Consulting, Inc. recently won an employee stock ownership plan (ESOP) fiduciary/breach case brought against them by the Department of Labor. See Walsh v. Bowers, et al., No....more
The Seventh Circuit Court of Appeals recently ruled that a participant lawsuit challenging an employee stock ownership plan (ESOP) transaction could not be forced into arbitration. See Smith v. Bd. Of Dir. Of Triad Mfg.,...more
Recently, the Sixth Circuit Court of Appeals held that a plaintiff was required to request attorneys’ fees during an arbitration of an ERISA claims dispute. Having failed to do so, the plaintiff could not subsequently seek a...more
The U.S. Supreme Court recently agreed to hear a challenge to the dismissal of an Employee Retirement Income Security Act (ERISA) 401(k) excessive fee case. The case involves a question about whether jury trials are...more