News & Analysis as of

Class Action › Retirement Plan › Fiduciary

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

Davis Wright Tremaine LLP

Excessive Fees or Incessant Litigation – Time for Legislative and Employer Action on Retirement Plans!

Davis Wright Tremaine LLP on

Commonly referred to as "excessive fee" litigation, class actions that allege retirement plan investments charge too much and earn too little have increased over the past two decades. Excessive fee cases are difficult to...more

Proskauer - Employee Benefits & Executive...

Fifth Circuit Reverses Dismissal of 401(k) Fees Claims

Proskauer - Employee Benefits & Executive... on

The Fifth Circuit recently reversed a district court’s dismissal of claims that the fiduciaries of a 401(k) plan breached the duty of prudence under ERISA by offering participants retail share classes instead of cheaper...more

Holland & Knight LLP

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

Holland & Knight LLP on

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...

Industry Coalition Unites to Support Dismissal of ERISA Fiduciary-Breach Claims Related To BlackRock Target Date Funds

Proskauer - Employee Benefits & Executive... on

The filing of a new 401(k) plan “excessive fee” or “investment underperformance” complaint is hardly “news” these days given the proliferation of suits that have been filed over the past several years. In fact, hardly a week...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

ERISA Cybersecurity Lessons for Employers

Ogletree, Deakins, Nash, Smoak & Stewart,... on

Retirement plans are increasingly subject to cybersecurity issues, and the U.S. Department of Labor (DOL) is taking notice. On April 14, 2021, the DOL published cybersecurity guidance “for plan sponsors, plan fiduciaries,...more

Pillsbury Winthrop Shaw Pittman LLP

Reducing Exposure to 401(k) Plan Class Action Litigation

Pillsbury Winthrop Shaw Pittman LLP on

Steering board members clear of being named plan fiduciaries is a start. Most board members don’t want to become 401(k) plan fiduciaries....more

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