News & Analysis as of

Fiduciary Duty Excessive Fees Financial Services Industry

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Affiliated plan providers of big plans get slaughtered

Following a jury’s decision to award over $38 million to a class of more than 26,000 participants in Pentegra’s multiple employer plan, the issue of working with providers affiliated with the plan sponsor highlights the...more

Carlton Fields

Considerations for Plan Sponsors in the Wake of Cunningham v. Cornell

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Excessive fee cases against plans governed by the Employee Retirement Income Security Act (ERISA) have been on the rise for the last decade. ERISA litigation is expanding with novel theories such as forfeiture litigation....more

Carlton Fields

Great-West Wins 36(b) Fee Case

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Great-West Life & Annuity Insurance Co. and Great-West Capital Management, LLC (together, “Great-West”) have won a judgment that they did not violate their fiduciary duty by receiving excessive investment advisory and...more

Carlton Fields

Mutual Fund Advisers Win Again on Section 36(b) Claims

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Following a four-day bench trial, New Jersey District Judge Renee Bumb granted judgment to defendant Hartford mutual fund advisers on "excessive fee" claims brought by fund shareholders under Section 36(b) of the Investment...more

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