Settlement, Class Action, Breach of Duty

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

Northrop Grumman is target for another Schlicter case

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on 5/29/2025

If there’s a Mount Rushmore of ERISA class-action litigators, you better believe Jerry Schlichter’s face is carved into it—probably right next to a 408(b)(2) disclosure and a stack of mutual fund fee charts. And once again,...more

BB&T settles 401(k) lawsuit

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on 5/20/2019

With a planned merger with SunTrust, BB&T tied up a loose end by agreeing to a $24 million settlement on a class action lawsuit filed against them over their 401(k) plan....more

The First Department Reconsiders Approval of a Class Action Settlement

Patterson Belknap Webb & Tyler LLP on 4/25/2019

On April 11, 2019, the First Department unanimously affirmed a decision issued by Justice Shirley Werner Kornreich, formerly of the Commercial Division, which denied the plaintiffs’ motion for final approval of a class action...more

Fidelity sued again over their 401(k) plan

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on 10/18/2018

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

NC Bar on Notice: Business Court May Increase Scrutiny for Approval of Disclosure-Only Class Action Settlements & Attorneys’ Fees

Moore & Van Allen PLLC on 2/3/2017

Rolling into the new year, North Carolina attorneys are on notice that the ability to gain approval of class action settlements and related attorneys’ fees may become more difficult in some cases. In recent years, we have...more

NY Court Of Appeals Rejects No-Opt Out Class Action Settlement In Shareholder Litigation

Proskauer - Corporate Defense and Disputes on 5/6/2016

In Jinnaras v. Alfant, decided on May 5, 2015, the New York Court of Appeals rejected a proposed settlement of a shareholder class action, where the proposed settlement would have deprived out-of-state class members of a...more

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

Goodwin on 12/19/2014

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

Settlement › Class Action › Breach of Duty

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