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Class Action › Fiduciary › Breach of Duty

A class action is a type of legal action where a representative individual or group of individuals can bring a claim on behalf of a larger group or class who share a common legal interest.
Mayer Brown

Northern District of Texas Expands Fiduciary Exposure by Permitting ESG Proxy Voting Theory to Go to Trial

Mayer Brown on

Case Name and Number: Spence v. American Airlines, Inc., et al., No. 4:23-cv-00552 - INTRODUCTION - On June 20, 2024, Judge Reed O’Connor in the Northern District of Texas (the “court”) denied a motion for summary...more

Proskauer - Employee Benefits & Executive...

Massachusetts District Court Grants Motion to Dismiss 401(k) Fiduciary Breach and Prohibited Transaction Claims

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A federal district court in Massachusetts dismissed ERISA fiduciary breach and prohibited transaction claims against 401(k) plan fiduciaries, ruling that the prohibited transaction claims were time-barred and the fiduciary...more

Holland & Knight LLP

Tenth Circuit Dismisses Claims Related to High-Cost Funds, High Recordkeeping Fees

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The U.S. Court of Appeals for the Tenth Circuit issued its decision in Matney v. Barrick Gold of North America, et al. on Sept. 6, 2023, finding that participants in an employer-sponsored defined contribution retirement plan...more

Proskauer - Employee Benefits & Executive...

Two More District Courts Reject ERISA Fee and Performance Claims as Insufficient

Proskauer - Employee Benefits & Executive... on

Two recent district court decisions add to the growing number of courts granting motions to dismiss putative ERISA class actions challenging defined contribution plan fees and investment performance. These decisions from the...more

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