2021 was another busy year for litigation under the Employee Retirement Income Security Act, with more than 125 new ERISA class actions filed — more than were filed in 2018 or 2019, but down from the all-time high in 2020,...more
On July 2, 2021, the Supreme Court agreed to hear Hughes v. Northwestern, which involves a challenge to investment fees and recordkeeping fees in two 403(b) plans maintained by Northwestern University. The district court...more
On October 2, 2020, the Northern District of Illinois ruled on motions to dismiss in a closely-watched cybertheft lawsuit arising out of the theft of $245,000 from a participant’s account in the Abbott Laboratories Stock...more
10/16/2020
/ Abbott Laboratories ,
Benefit Plan Sponsors ,
Breach of Duty ,
Cybersecurity ,
Cybertheft ,
Duty of Loyalty ,
Duty of Prudence ,
Duty to Monitor ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Popular ,
Retirement Plan
On March 27, 2020, the District of Massachusetts issued a decision finding that Fidelity breached its fiduciary duties to its own 401(k) Plan by failing to monitor investments and administrative expenses. ...more