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401k › Class Action › Investment Funds

Kilpatrick

The Ninth Circuit Rejects Plaintiffs’ Challenge to 401(k) Investments in Private Equity

Kilpatrick on

On May 22, 2025, the Ninth Circuit affirmed a district court’s decision to reject a class action lawsuit brought against fiduciaries of Intel defined contribution retirement plans that challenged the plan managers’ decision...more

Proskauer - Employee Benefits & Executive...

Massachusetts District Court Grants Motion to Dismiss 401(k) Fiduciary Breach and Prohibited Transaction Claims

Proskauer - Employee Benefits & Executive... on

A federal district court in Massachusetts dismissed ERISA fiduciary breach and prohibited transaction claims against 401(k) plan fiduciaries, ruling that the prohibited transaction claims were time-barred and the fiduciary...more

Cadwalader, Wickersham & Taft LLP

American Airlines Moves to Dismiss Suit Challenging Inclusion of ESG Funds in Retirement Plan

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In August 2023, American Airlines, Inc. moved to dismiss a class action lawsuit filed against the airline for allegedly jeopardizing employees’ retirement savings by investing in environmental, social and governance (ESG)...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Tech company agrees to fork over $1 million in class action case

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

Coriant agreed to pay $1 million to resolve claims it violated its fiduciary duties under ERISA while administering its 401(k) plan. Coriant was an optical telecommunications company that was acquired by another company in...more

Carlton Fields

Ninth Circuit Steps In-Line on Arbitrability of ERISA Claims

Carlton Fields on

The Ninth Circuit, in back-to-back opinion and memorandum decisions in Dorman v. Charles Schwab Corp., overruled long-standing precedent that ERISA claims are not arbitrable. The plaintiff, a former Schwab employee, filed a...more

Littler

Striking Down Decades-Old Precedent, Ninth Circuit Rules That ERISA Breach of Fiduciary Duty Claims May Be Arbitrated

Littler on

On August 20, 2019, a three-judge panel of the U.S. Court of Appeals for the Ninth Circuit issued an opinion in Dorman v. Charles Schwab Corp., overturning its 1984 position in Amaro v. Continental Can Co. that lawsuits filed...more

Proskauer Rose LLP

The ERISA Litigation Newsletter - January 2017

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Editor’s Overview - In 2016, we saw a considerable uptick in the number and variety of excessive fee lawsuits commenced against plan fiduciaries of defined contribution plans. We begin the year by taking a look at these...more

Stinson - Benefits Notes Blog

Owner/Trustee of 401(k) Plan Accused of Having Eyes Wide Shut on Fiduciary Duties

Stinson - Benefits Notes Blog on

Last June I blogged about the trend of participant fee class actions moving down to smaller 401(k) Plans. Occasionally, class actions are brought based on other breaches of fiduciary duties, particularly those involving...more

Proskauer Rose LLP

The ERISA Litigation Newsletter - June 2015

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Editor's Overview - In this month's newsletter, Anthony Cacace analyzes the heavily anticipated Supreme Court ruling in Tibble v. Edison Intl., 135 S. Ct. 1823 (2015), where the Court held that ERISA's fiduciary duty of...more

Stinson - Benefits Notes Blog

Ameriprise Avoids Trial On Class Action Suit By Current and Former Employees With $27.5 Million Payment

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In 2011, a group of current and former employees filed a class action lawsuit in the District Court of Minnesota claiming that Ameriprise Financial, Inc. and members of its 401(k) Plan fiduciary committee had breached their...more

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