News & Analysis as of

401k › Prohibited Transactions › Class Action

Mayer Brown

The Current State of the Law in ERISA Forfeitures Cases

Mayer Brown on

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

Lowenstein Sandler LLP

Supreme Court Ruling Makes It Easier for Participants To Sue Plan Fiduciaries

Lowenstein Sandler LLP on

On April 17, the Supreme Court unanimously resolved a circuit split in Cunningham v. Cornell University, holding that plan participants need only allege that fiduciaries engaged in a “prohibited transaction” under the...more

Carlton Fields

The Case of Excessive Fees: Supreme Court to Investigate Pleading Standard in ERISA Excessive Fee Litigation

Carlton Fields on

ERISA class action litigation against retirement plan fiduciaries remains a prominent feature of the legal landscape this year. These lawsuits typically involve allegations that plan fiduciaries acted imprudently in...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

Mintz - Employment Viewpoints

Khan v. PTC, Inc.—Three Important Lessons From An Otherwise Unremarkable 401(k) Fee Case

Mintz - Employment Viewpoints on

According to Bloomberg Law, class actions challenging 401(k) plan fees are increasing at a record pace. The underlying claims in these class action suits fall into predictable categories that are all too familiar: excessive...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Per head charges are eye popping in MEP case

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

National Rural Electric Cooperative Association (NRECA) is a national service organization that represents more than 1,000 rural electric cooperatives around the United States. NRECA sponsors a 401(k) multiple employer plan...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

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