Investment Management, Investment Funds, Breach of Duty

Pleading Breaches of Fiduciary Duties in Class Proceedings: Court of Appeal Keeps the Bar Low in Ontario

Stikeman Elliott LLP on 2/27/2024

In Boal v International Capital Management Inc.(“Boal”), the Ontario Court of Appeal (the “Court”) considered the pleading requirements for certification of a breach of fiduciary duty cause of action. In holding that it was...more

Fourth Circuit Affirms Aon’s Trial Victory in Investment Suit

Jackson Lewis P.C. on 7/24/2023

The Fourth Circuit affirmed Aon Hewitt Investment Consulting’s trial victory in a 250,000-member class action suit alleging that Aon breached ERISA’s fiduciary duties. Aon was initially the Lowe’s 401(k) plan’s investment...more

Tech company agrees to fork over $1 million in class action case

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on 1/31/2023

Coriant agreed to pay $1 million to resolve claims it violated its fiduciary duties under ERISA while administering its 401(k) plan. Coriant was an optical telecommunications company that was acquired by another company in...more

SEC Sues Investment Adviser for Nondisclosure of Revenue Sharing Agreement Details

Kramer Levin Naftalis & Frankel LLP on 9/3/2019

On Aug. 1, the Securities and Exchange Commission (the SEC) charged Commonwealth Equity Services LLC, dba Commonwealth Financial Network (Commonwealth), a registered independent investment adviser to private clients (but not...more

Striking Down Decades-Old Precedent, Ninth Circuit Rules That ERISA Breach of Fiduciary Duty Claims May Be Arbitrated

Littler on 8/26/2019

On August 20, 2019, a three-judge panel of the U.S. Court of Appeals for the Ninth Circuit issued an opinion in Dorman v. Charles Schwab Corp., overturning its 1984 position in Amaro v. Continental Can Co. that lawsuits filed...more

Owner/Trustee of 401(k) Plan Accused of Having Eyes Wide Shut on Fiduciary Duties

Stinson - Benefits Notes Blog on 10/25/2016

Last June I blogged about the trend of participant fee class actions moving down to smaller 401(k) Plans. Occasionally, class actions are brought based on other breaches of fiduciary duties, particularly those involving...more

The ERISA Litigation Newsletter - June 2015

Proskauer Rose LLP on 6/26/2015

Editor's Overview - In this month's newsletter, Anthony Cacace analyzes the heavily anticipated Supreme Court ruling in Tibble v. Edison Intl., 135 S. Ct. 1823 (2015), where the Court held that ERISA's fiduciary duty of...more

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