44 results for 'cat:"ERISA" AND cat:"Fiduciary Duty"'.
J. Williams grants, in part, the former partner's motion to dismiss fiduciary duty and theft claims, ruling that because his expulsion from the firm may have been improper under for lack of concrete evidence he violated criminal statutes, the accounting firm named as plaintiff is not a legitimate legal entity and must be dismissed from the suit. However, because the other partners in the firm are trustees of the retirement plan at issue in the case, they have standing.
Court: USDC Connecticut, Judge: Williams, Filed On: September 20, 2023, Case #: 3:22cv1269, NOS: Other Statutory Actions - Other Suits, Categories: erisa, fiduciary Duty
J. Lungstrum grants a class of employees' motion for final approval of a class action settlement. The class, which brought claims under ERISA, sufficiently showed in court that Coca Cola breached its fiduciary duty when it imposed record-keeping fines on employees' benefits.
Court: USDC Kansas, Judge: Lungstrum, Filed On: September 18, 2023, Case #: 2:21cv2054, NOS: Employee Retirement Income Security Act (ERISA) - Labor, Categories: erisa, fiduciary Duty, Class Action
J. Lioi grants the employee's motion for default judgment, ruling the employer's failure to respond to any of the allegations renders it liable for over $9,000 in damages to cover medical expenses incurred after the employer terminated health insurance coverage despite promises it would remain in effect.
Court: USDC Northern District of Ohio, Judge: Lioi, Filed On: September 1, 2023, Case #: 5:22cv2038, NOS: Employee Retirement Income Security Act (ERISA) - Labor, Categories: erisa, Damages, fiduciary Duty
J. Cooper dismisses a retirement service company's action challenging a release issued by the Department of Labor that questioned the risks of investing in cryptocurrency and warned retirement plan sponsors of their duties under ERISA, which the company claims led retirement plans to backout of discussions to partner with it. The company fails to show the fiduciaries would renew their discussions if granted the requested relief, and the release is not a final agency action subject to judicial review.
Court: USDC District of Columbia, Judge: Cooper, Filed On: August 29, 2023, Case #: 1:22cv1551, NOS: Administrative Procedure Act/Review or Appeal of Agency Decision - Other Suits, Categories: Administrative Law, erisa, fiduciary Duty
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J. Tostrud partially grants the employer and its fiduciary investment committee and directors' motion to dismiss the former employees' suit alleging that the employer's 401(k) and profit-sharing plan was mismanaged. Claims relating to allegedly excessive recordkeeping expenses and management fees and to underperforming funds are dismissed, along with a breach of duty of loyalty claim. Claims derived from allegations that the plan's fiduciaries invested in unnecessarily expensive share classes survive, as does one that alleges that the employer and its board failed to monitor the performance of the plan committee.
Court: USDC Minnesota, Judge: Tostrud, Filed On: August 21, 2023, Case #: 0:22cv415, NOS: Employee Retirement Income Security Act (ERISA) - Labor, Categories: erisa, fiduciary Duty
J. Bredar denies a health care provider its motion to exclude an expert’s testimony in an ERISA suit brought by a class of former employees. The ERISA plan has over 25,000 participants and total assets of almost $1.8 billion, and the class claims the provider has not monitored the plan properly. The expert based his opinion about the alleged financial losses on a reliable method which he correctly applied. The class is also granted leave to file a second amended complaint so it can include relevant information found upon discovery.
Court: USDC Maryland, Judge: Bredar, Filed On: August 10, 2023, Case #: 1:20cv1984, NOS: Employee Retirement Income Security Act (ERISA) - Labor, Categories: erisa, fiduciary Duty, Class Action
J. Dooley denies the insureds' motion for class certification, ruling that differences in the various policies prevent finding a common answer as to whether the insurer overcharged the class members for medical equipment. Although some or many of the policies may have similar payment structures and provide the type of commonality required, too many individualized inquiries will be required to allow the court to properly analyze the questions presented by the lawsuit.
Court: USDC Connecticut, Judge: Dooley, Filed On: July 6, 2023, Case #: 3:17cv1693, NOS: Employee Retirement Income Security Act (ERISA) - Labor, Categories: erisa, fiduciary Duty, Class Action
J. Williams grants, in part, the retirement plan administrator's motion to dismiss, ruling that while there were better performing investment funds than those offered to participants, the offered funds' performance was not so bad the administrator violated its fiduciary duty when it kept lower performance fund options. Meanwhile, because the participants cited no specific data for the availability of cheaper recordkeeping services, their claim for excessive fees must also be dismissed.
Court: USDC Connecticut, Judge: Williams, Filed On: June 13, 2023, Case #: 3:21cv1658, NOS: Employee Retirement Income Security Act (ERISA) - Labor, Categories: erisa, fiduciary Duty