News & Analysis as of

Duty of Prudence Retirement Plan Investment Management

Troutman Pepper Locke

Texas Federal Court Allows an ERISA Fiduciary Challenge Against Alleged "ESG Investing" Without Any ESG Funds

Troutman Pepper Locke on

On January 10, 2025, in Spence v. American Airlines, a federal district court in Texas ruled that American Airlines (the company) and the committee overseeing its 401(k) plans (the committee) breached their duty of loyalty...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Do You Really Want to Be an ERISA Fiduciary?

Two recent class action lawsuits charging a breach of fiduciary duty under the Employee Retirement Income Security Act (ERISA) have increased the stakes and raised important considerations regarding a plan fiduciary’s duty of...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

99 Cents Stores To Fork More Than A Dollar in 401(k) lawsuit

99 Cents Only Stores have come to terms with an excessive fee suit involving their 401(k) plan for about $749,901.01 more than their name. 99 Cents Only was sued for 1) for breach of fiduciary duties of prudence and...more

Proskauer - Employee Benefits & Executive...

[Podcast] DOL’s 2022 Final ESG Rules

In this episode of The Proskauer Benefits Brief, Proskauer partners Ira Bogner and Adam Scoll and law clerk Tanusha Yarlagadda discuss the Department of Labor’s final ESG rules issued on November 22, 2022, and how those rules...more

Seyfarth Shaw LLP

Court Finds Named Plaintiffs Inadequate to Represent Proposed Class on ERISA Excessive Fee Claims

Seyfarth Shaw LLP on

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

Robinson+Cole ERISA Claim Defense Blog

Sixth Circuit Rejects Arbitration Of Certain ERISA § 502(a)(2) Claims, Ruling That Employee Consent To Arbitration May Not Bind...

In Hawkins v. Cintas Corp., No. 21-3156, __ F.4th __, 2022 WL 1236954 (6th Cir. Apr. 27, 2022), the U.S. Court of Appeals for the Sixth Circuit ruled that an arbitration clause contained in certain individual employment...more

Goodwin

ERISA Litigation Update - April 2022

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Welcome to Goodwin’s ERISA Litigation Update. Litigation involving ERISA-governed benefits plans has exploded in recent years. Lawyers in our award-winning ERISA Litigation practice have extensive experience litigating these...more

Proskauer - Employee Benefits & Executive...

District Court Declines to Dismiss 401(k) Fee Litigation Case in First Decision Post-Hughes

In the first decision since the Supreme Court’s ruling in Hughes v. Northwestern Univ., No. 19-1401, 595 U.S. ___ (U.S. Jan. 24, 2022), a Georgia federal district court held in favor of plaintiffs and declined to dismiss...more

Goodwin

ERISA Litigation Update - December 2021

Goodwin on

Welcome to Goodwin’s ERISA Litigation Update. Litigation involving ERISA-governed benefits plans has exploded in recent years. Lawyers in our award-winning ERISA Litigation practice have extensive experience litigating these...more

Goodwin

U.S. Department of Labor Formalizes Reinstatement of “Five Part Test” For Fiduciary Investment Advice and Proposes Broad Principal...

Goodwin on

On June 29, 2020, the U.S. Department of Labor (the Department) formally reinstated its “five-part test” for determining what constitutes “investment advice” under ERISA and Section 4975 of the Internal Revenue Code (the...more

Goodwin

U.S. Department of Labor Issues Proposed Regulation on Environmental, Social & Governance Investing

Goodwin on

On June 23, 2020, the U.S. Department of Labor issued a proposal to regulate the use of environmental, social, and governance (ESG) strategies by investment fiduciaries under ERISA. The proposal, if finalized, would be the...more

Burr & Forman

The Brave New World of Fiduciary Responsibility for Benefit Plans

Burr & Forman on

Most blog entries focus on new developments or recent legislation. This one’s a bit different. Its subject matter, fiduciary responsibility, is as old as ERISA itself. In today’s environment of increased litigation risks for...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

McDermott Will & Emery

Georgetown University Defeats Retirement Plan Fee Litigation and “If a Cat Were a Dog, It Would Bark”

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Recently, the US District Court for the District of Columbia dismissed a proposed class action lawsuit brought by former Georgetown employees under the Employee Retirement Income Security Act of 1974 (ERISA) over fees and...more

Littler

Victory for NYU After First Trial in the 401(k) Fee Cases Filed Against Colleges and Universities

Littler on

In the past two years, more than 16 prominent colleges and universities across the country have been targeted by class action lawsuits filed under the Employee Retirement Income Security Act (ERISA) challenging the fees and...more

McDermott Will & Emery

401(k) Plan Sponsors and Fiduciaries Face an Alarming Number of Stable Value Fund and Other Class Action Lawsuits

In the last several months, plaintiffs have filed multiple class action lawsuits against plan sponsors, plan fiduciaries and stable value fund providers. These lawsuits, which have involved 401(k) plans sponsored by large...more

Proskauer Rose LLP

The ERISA Litigation Newsletter - June 2015

Proskauer Rose LLP on

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

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