News & Analysis as of

Fiduciary Duty Appeals Supreme Court of the United States

Mayer Brown

US Supreme Court Grants Review in One ERISA Case, and Has Now Called for Views of the Solicitor General in Two Other ERISA Cases

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Fresh off its April 17, 2025 decision in Cunningham v. Cornell University, the US Supreme Court is setting the stage to delve back into ERISA issues next Term. On Monday, the Court granted certiorari to resolve a circuit...more

Troutman Pepper Locke

SEC Briefs Disgorgement and Investor Harm in Navellier v. SEC

Troutman Pepper Locke on

In the recent Supreme Court case, Navellier & Associates, Inc. v. Securities and Exchange Commission (SEC), the petitioners sought a writ of certiorari challenging the decisions of the lower courts regarding the scope of...more

Polsinelli

Supreme Court Revives ERISA Litigation Dismissed in Second Circuit: Will the Supreme Court’s Adoption of a Liberal Pleading...

Polsinelli on

On Thursday, April 17, a unanimous Supreme Court held that a less demanding pleading standard is applicable when plaintiffs bring an Employee Retirement Income Security Act of 1974 (ERISA) class action under ERISA Section...more

Jackson Lewis P.C.

Supreme Court Clarifies ERISA Prohibited Transaction Pleading Standards

Jackson Lewis P.C. on

On April 17, 2025, the U.S. Supreme Court, in a unanimous opinion, resolved a circuit split and established a plaintiff-friendly pleading standard for ERISA prohibited transaction claims in Cunningham v. Cornell University,...more

DLA Piper

Supreme Court Opens the Door to Increased ERISA Litigation

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The US Supreme Court has issued a unanimous opinion that could lead to an increase in litigation for prohibited transaction claims under the Employee Retirement Income Security Act of 1974, as amended (ERISA)....more

Vedder Price

Cunningham v. Cornell University

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On April 17, 2025, the U.S. Supreme Court issued a unanimous opinion on the requirements for plaintiffs to survive a motion to dismiss regarding an allegation that plan fiduciaries engaged in a prohibited transaction under...more

Holland & Knight LLP

Supreme Court Ruling Eases Path for ERISA Prohibited Transaction Claims

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The U.S. Supreme Court on April 17, 2025, issued a greatly anticipated decision in which the justices unanimously held that plaintiffs alleging a prohibited transaction under Section 1106(a)(1)(C) of the Employee Retirement...more

Proskauer - Employee Benefits & Executive...

Supreme Court Establishes Lower Pleading Standard for Prohibited Transaction Claims

In a unanimous decision, the U.S. Supreme Court ruled in Cunningham v. Cornell University that plaintiffs can satisfy the requirements for pleading prohibited party-in interest transactions under ERISA section 406(a) without...more

Goodwin

Supreme Court Decides Pleading Standard to Allege ERISA Prohibited-Transaction Claims, Favoring Plaintiffs

Goodwin on

Key takeaway: The Supreme Court held that to state an ERISA prohibited-transaction claim under 29 U.S.C. § 1106(a), a plaintiff needs only to plausibly allege the elements contained in § 1106(a) itself and does not need to...more

Faegre Drinker Biddle & Reath LLP

Supreme Court Decides Cunningham v. Cornell University

On April 17, 2025, the Supreme Court decided Cunningham v. Cornell University, No. 23-1007, holding that a plaintiff may state a prohibited-transaction claim in violation of ERISA § 406(a) without referencing the exemptions...more

Seyfarth Shaw LLP

Supreme Court Lowers Bar to Pleading Prohibited Transactions, Despite “Serious Concerns” of Meritless Litigation

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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

Maynard Nexsen

Burden at the Crossroads: Pizarro Paves the Way for Potential Supreme Court Review

Maynard Nexsen on

ERISA breach of fiduciary duty class actions have surged in recent years, prompting courts to grapple with complex questions about how these claims should be pleaded and litigated. Among the most consequential and unresolved...more

Epstein Becker & Green

To Some, It’s About ERISA—to Everyone, It’s About Not Having to Plead Affirmative Defenses - SCOTUS Today

Epstein Becker & Green on

Notwithstanding its mounting backlog, the U.S. Supreme Court resolved only one case today, an unsurprising unanimous decision in Cunningham v. Cornell University....more

Morris James LLP

Supreme Court Affirms Chancery Decision of Near-Record $267 Million Fee Award

Morris James LLP on

In re Dell Techs. Inc. Class V S’holders Litig., No. 349, 2023 (Del. Aug. 14, 2024) - After an appeal of the second-largest fee award in Delaware history, the Delaware Supreme Court ruled that the Court of Chancery had...more

DLA Piper

Supreme Court Debates ERISA Exemptions in Cunningham v. Cornell University

DLA Piper on

The US Supreme Court heard argument on Wednesday, January 22, 2025 from Cornell University and its employees over dismissal of a class action alleging that Cornell University’s retirement plan paid unreasonable recordkeeping...more

Mintz - Technology, Communications & Media...

Telephone and Texting Compliance News: Litigation Update — Second and Third Circuits Address Automatic Telephone Dialing Systems;...

In the rapidly evolving landscape of Telephone Consumer Protection Act (TCPA) litigation, recent court decisions continue to provide defendant-friendly clarity as to what technology and platforms constitute automatic...more

Pillsbury - Policyholder Pulse blog

U.S. Supreme Court to Decide Whether State’s Public Policy Interest Could Sink Insurance Policy’s Choice-of-Law Provision

The rare insurance dispute has appeared on the horizon for the nation’s highest court. Last month, the U.S. Supreme Court granted certiorari and agreed to take up the case of Great Lakes Insurance SE v. Raiders Retreat Realty...more

ArentFox Schiff

Supreme Court Set To Rule This Spring on ERISA Investment Fees, Affecting Over 150 Cases Around the Country

ArentFox Schiff on

The U.S. Supreme Court heard oral argument to decide a circuit split and determine what ERISA requires of ERISA-governed pension plan fiduciaries with respect to investment fees and recordkeeping. A decision is expected in...more

Verrill

Supreme Court Declines to Address Pleading Standards in Stock-Drop Litigation – Retirement Plans Committee of IBM v. Jander...

Verrill on

On November 9, 2020, the Supreme Court declined to consider an appeal from the Second Circuit Court of Appeals in Retirement Plans Committee of IBM v. Jander, leaving unresolved for now questions about the specificity...more

Pullman & Comley - Labor, Employment and...

Supreme Court’s Sulyma Decision Creates Proof of Actual Knowledge Issue for Plan Fiduciaries

Since its adoption the Employee Retirement Income Securities Act of 1974, as amended (“ERISA”), has required employee benefit plan sponsors to make disclosures regarding plan terms and plan expenses.  The most well-known of...more

Holland & Knight LLP

Religious Institutions Update: July 2020

Holland & Knight LLP on

Several recent cases concern challenges to executive orders relating to COVID-19 limiting the ability of churches to assemble and imposing other limitations. Beginning with appellate decisions, these cases are summarized in...more

Hinshaw & Culbertson LLP

The LHD/ERISA Advisor: U.S. Supreme Court Issues Ruling on 'Actual Knowledge' Required to Trigger ERISA's Limitations Period

On February 26, 2020, the Supreme Court issued its decision in Intel Corp. Inv. Policy Comm. v. Sulyma, __. U.S. __, 140 S. Ct. 768 (2020). The Court unanimously held that Christopher Sulyma ("Sulyma") did not necessarily...more

Dorsey & Whitney LLP

Supreme Court holds “actual knowledge” in ERISA statute means “what it says”

Dorsey & Whitney LLP on

On February 26, 2020, the Supreme Court held that the term “actual knowledge” in the ERISA statute of limitations clause found in 29 U.S.C. §1113(2), ERISA §413 applicable to breach of fiduciary duty cases means “what it...more

Burr & Forman

If Your Retirement Plan Holds Employer Securities, Keep an Eye on the Jander Case

Burr & Forman on

“Employer securities” in retirement plans have been the source of a significant amount of litigation under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). In general, “employer securities” are...more

Robinson+Cole ERISA Claim Defense Blog

Supreme Court’s Sulyma Decision May Complicate Plan Administrators’ Consideration of the DOL’s New Proposed Electronic Safe Harbor...

As discussed in an earlier post on this blog, in Intel Corporation Investment Policy Committee et al. v. Sulyma, No. 18-1116 (Feb. 26, 2020), the U.S. Supreme Court addressed the statute of limitations for breach of fiduciary...more

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