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Retirement Plan › Class Action › Cunningham v Cornell University

Polsinelli

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

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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

Lowenstein Sandler LLP

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

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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

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

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

DLA Piper

Supreme Court Debates ERISA Exemptions in Cunningham v. Cornell University

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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

Carlton Fields

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

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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

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