Fiduciary Duty, Settlement Agreements, Class Action

District Court Strikes Down $40 Million Settlement Agreement in Target Date Funds Case Based on Parallel SEC Settlement

Ropes & Gray LLP on 7/15/2025

On May 19, 2025, the United States District Court for the Eastern District of Pennsylvania (the “Court”) denied final approval of a $40 million proposed settlement in a major class action lawsuit against The Vanguard Group,...more

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

Proskauer - Employee Benefits & Executive... on 4/18/2024

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

The Seventh Circuit Provides District Courts Ammunition To Deal With “Objector Blackmail” In Proposed Class Settlements

Seyfarth Shaw LLP on 8/21/2020

Seyfarth Synopsis: “Objector blackmail” occurs in the class settlement approval process when a few class members object to a proposed settlement and, after the district court has overruled their objections, pursue appeals...more

What We Can Learn from the Anthem Settlement

Faegre Drinker Biddle & Reath LLP on 6/12/2019

The recent settlement of the Anthem class action lawsuit (Bell v. ATH Holding Company, LLC) reflects some trends in 401(k) litigation: the focus on share classes, arguments to support inclusion of non-mutual fund investments...more

Best Practices for Plan Sponsors #8

Faegre Drinker Biddle & Reath LLP on 5/21/2019

Best Practices: Lessons Learned from Litigation—the Anthem Case - I am writing two series of articles that together are called “The Bests.” One is about Best Practices for Plan Sponsors, while the other is about the Best...more

California Federal Court Rules Excess Policy Not Triggered by Underlying Insurers’ Payment of Uncovered Loss

White and Williams LLP on 11/30/2018

On Monday, November 16, 2018, in AXIS Reinsurance Company v. Northrop Grumman Corporation, Case No. 17-8660 (C.D. Cal.), a federal district court in California ruled that an excess fiduciary liability insurer did not owe...more

Lincare Settles Class Action Data Breach Case with Employees

Robinson+Cole Data Privacy + Security Insider on 5/21/2018

Lincare Holdings Inc. (Lincare), following mediation, recently entered into a settlement with its employees regarding a data breach that took place on February 3, 2017. ...more

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