Last week, Judge Reed O’Connor of the U.S. District Court for the Northern District of Texas, issued the first-of-its-kind ruling on the merits pertaining to environmental, social, and corporate governance (“ESG”) investing...more
1/20/2025
/ 401k ,
American Airlines ,
Breach of Duty ,
Corporate Governance ,
Department of Labor (DOL) ,
Duty of Loyalty ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Environmental Social & Governance (ESG) ,
Fiduciary Duty ,
Investment Adviser ,
Investment Management ,
Retirement Plan
A district court in New York recently dismissed a putative class action challenging retirement plan recordkeeping and investment management fees. The case is Singh v. Deloitte LLP, No. 21-cv-8458, 2023 WL 186679 (S.D.N.Y....more
1/25/2023
/ 401k ,
Dismissals ,
Duty of Prudence ,
Employee Retirement Income Security Act (ERISA) ,
Excessive Fees ,
Fiduciary Duty ,
Investment Management ,
New York ,
Popular ,
Putative Class Actions ,
Recordkeeping Requirements ,
Retirement
In April, we wrote here about the discouraging trend of opinions allowing commonly asserted breach of fiduciary duty claims in 401(k) and 403(b) plan investment litigation to survive motions to dismiss. While it may be too...more
7/6/2022
/ 401k ,
403(b) Plans ,
Breach of Duty ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Hughes v. Northwestern University ,
Investment Management ,
Management Fees ,
Motion to Dismiss ,
Retirement Plan
On Friday, the Ninth Circuit became the first circuit court to rule in a 401(k) plan fee and investment litigation following the Supreme Court’s January 2022 decision in Hughes v. Northwestern University, 142 S. Ct. 737...more
4/12/2022
/ 401k ,
Breach of Duty ,
Employee Benefits ,
Fees ,
Fiduciary Duty ,
Investment Management ,
Motion to Dismiss ,
Mutual Funds ,
Retirement Plan ,
Salesforce ,
Share Classes
A federal district court in Florida sent a proposed ERISA breach of fiduciary duty class action to individual arbitration on the basis of a plan arbitration clause that allowed for individual relief and plan-wide injunctive...more
2/3/2022
/ 403(b) Plans ,
Breach of Duty ,
Class Action ,
Class Action Arbitration Waivers ,
Defined Contribution Plans ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Federal Arbitration Act ,
Fiduciary Duty ,
Injunctive Relief ,
Investment Management ,
Mandatory Arbitration Clauses ,
Retirement Plan
A South Carolina federal district court denied plaintiffs’ demand for a jury trial in an ERISA fiduciary-breach action. The court held that, because federal courts in the Fourth Circuit and elsewhere have consistently held...more
The Fifth Circuit affirmed the dismissal, for lack of standing, of a fiduciary breach representative action against American Airlines and its 401(k) plan investment committee. Ortiz v. American Airlines, Inc., No. 20-10817,...more
8/5/2021
/ 401k ,
American Airlines ,
Article III ,
Breach of Duty ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Investment Management ,
Investment Opportunities ,
Retirement Plan ,
Standing