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Retirement Plan › Settlement › Fiduciary Duty

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

UnitedHealth settles for $69 million

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

When a $69 million settlement drops, it’s more than just a corporate write-off—it’s a signal flare in the murky world of fiduciary responsibility. UnitedHealth Group, one of the largest health care conglomerates in the...more

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

Eversheds Sutherland (US) LLP

Supreme Court lowers pleading standard for ERISA prohibited transaction claims

Eversheds Sutherland (US) LLP on

The US Supreme Court issued a unanimous decision on April 17, 2025 that could have a lasting impact on retirement plan litigation. The decision in Cunningham v. Cornell University clarifies that when plaintiffs bring...more

Littler

The Supreme Court Relieves ERISA Plaintiffs of a Pleading Requirement: What’s Next for ERISA Plan Fiduciaries?

Littler on

On April 17, 2025, the U.S. Supreme Court issued a decision that dealt a blow to benefit plan fiduciaries nationwide. The Court unanimously held in Cunningham v. Cornell University that a plaintiff asserting that a plan and...more

Groom Law Group, Chartered

Cunningham v. Cornell: Supreme Court Lowers Bar for ERISA 406(a) Claims

Groom Law Group, Chartered on

On April 17, 2025, the Supreme Court ruled in Cunningham v. Cornell University that, to state a claim under ERISA section 406(a), plaintiffs need only allege the elements contained in section 406(a). Prior to the Supreme...more

Morris, Manning & Martin, LLP

From Stable to Shaky: What Bed Bath & Beyond’s Settlement Means for Retirement Plan Sponsors

Morris, Manning & Martin, LLP on

In February, Bed Bath & Beyond, Inc.’s 401(k) Savings Plan Committee (the “Plan Committee”) agreed to pay $1,950,000 to participants in the Bed Bath & Beyond, Inc. 401(k) Savings Plan (the “Plan”) whose accounts were invested...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

Saul Ewing LLP

The Friday Five: Five ERISA Litigation Highlights - February 2025

Saul Ewing LLP on

This month’s Friday Five covers an appellate ruling on a complicated case raising both state and federal claims, an instance of procedural improprieties in the administrative review process informing the court’s substantive...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

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

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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