News & Analysis as of

Retirement Plan › Class Action › Settlement

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

United Health is latest 401(k) forfeiture lawsuit

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

UnitedHealth Group is the latest big-name employer to get hit with a class action lawsuit over how it handles 401(k) forfeitures. The case, Kotalik et al. v. UnitedHealth Group Inc., accuses the company and its plan...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Whole Foods settles class action case

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

Whole Foods Market has agreed to settle a class-action lawsuit that alleged the company failed to prudently manage the administrative fees of its $1.9 billion 401(k) plan, resulting in millions in losses for employees....more

Husch Blackwell LLP

ESOP Fiduciary Duties When Investing in Non-Stock Assets

Husch Blackwell LLP on

On February 6, 2025, a Pennsylvania federal judge gave preliminary approval to a $2.1 million settlement resolving a class action involving the Pride Mobility ESOP. This case is one of six brought so far—and the second to...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Fidelity sued again over their 401(k) plan

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

I have always been concerned about the use of proprietary funds, especially belong to mutual fund companies and their use in their own 401(k) plans because they’re ripe to be a target for a class action lawsuit. Fidelity...more

Carlton Fields

Fifth Circuit Vacates Settlement Approval in ERISA Class Action, Remanding With Instructions to Reexamine the Legitimacy of...

Carlton Fields on

The Fifth Circuit recently vacated a class action settlement that included unsecured and uncollateralized future payments to the plaintiffs, while providing a swift and complete payout of fees to class counsel. The case...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

Merrill Lynch has already staked out the position in response to the DOL’s retirement account fiduciary duty rule that it would no longer offer commission-based IRAs to retirement savers. Yesterday, it effectively doubled...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

401(k) Providers and their Plans

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

I love Clint Eastwood movies and one favorite is “In The Line of Fire’. John Malkovich is playing a wannabe Presidential assassin named Leary and Clint is playing Frank Horrigan, the Secret Service agent who is trying to...more

Goodwin

Insurer Agrees to $140 Million Settlement in ERISA Case Challenging Revenue Sharing Practices

Goodwin on

Nationwide Life Insurance Co. has agreed to settle ERISA fiduciary breach claims brought on behalf of a class of retirement plan trustees that purchased annuity contracts and/or services from Nationwide for their plans....more

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