In a unanimous decision reversing dismissal of prohibited transaction claims based on fees paid to defined contribution plan recordkeepers, the Supreme Court held that ERISA’s prohibited transaction exemptions are affirmative...more
4/18/2025
/ Appeals ,
Benefit Plan Sponsors ,
Class Action ,
Compensation & Benefits ,
Cunningham v Cornell University ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
ERISA Litigation ,
Fiduciary Duty ,
Motion to Dismiss ,
Pleading Standards ,
Popular ,
Prohibited Transactions ,
Retirement Plan ,
SCOTUS
Seyfarth Synopsis: A recent decision from the Eastern District of Michigan serves as a reminder that—while courts are often quick to certify classes in ERISA cases—plaintiffs must satisfy the requirements of Rule 23 and that...more
3/29/2023
/ Breach of Duty ,
Class Action ,
Class Certification ,
Class Representatives ,
Compensation & Benefits ,
Duty of Loyalty ,
Duty of Prudence ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
FRCP 23(a) ,
Investment Management ,
Retirement Plan
Seyfarth Synopsis: Since August 2016, sixteen elite colleges and universities have faced class action lawsuits related to management of their retirement plans. After five cases previously survived motions to dismiss, the...more
9/28/2017
/ Breach of Duty ,
Class Action ,
Colleges ,
Dismissals ,
Employee Benefits ,
Excessive Fees ,
Fiduciary Duty ,
Fraud ,
Investment Companies ,
Investment Management ,
Penn State ,
Retirement Plan ,
Universities