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Litigation

BY Nevin E. Adams, JD | 3/27/2024
A suit that alleged a breach of fiduciary duty in the selection of proprietary funds that were said to be underperforming has been dismissed for failure to state a claim. The plan in question is... Read More
BY Nevin E. Adams, JD | 3/25/2024
Another suit filed against flexPATH by the law firm of Schlichter Bogard, LLP has been dismissed—with prejudice—though it seems to have turned more on good outcomes than prudent processes. This... Read More
BY Ted Godbout | 3/20/2024
Coming mere days after the Securities and Exchange Commission (SEC) released a final rule requiring registrants to disclose certain climate-related information, a federal appeals court has issued a... Read More
BY Nevin E. Adams, JD | 3/19/2024
March is coming in like a lion with a new “genre” of ERISA litigation. While it’s early yet, two—and now three—recent suits—filed by different law firms in different federal district courts—might... Read More
BY Nevin E. Adams, JD | 3/14/2024
In a lengthy filing (109 pages), Yale University says the plaintiffs who lost their excessive fee case in a jury trial shouldn’t get a “do over.” More specifically, the Yale fiduciary defendants... Read More
BY Nevin E. Adams, JD | 3/12/2024
An excessive fee suit decision that starts out noting that the “defendants are fiduciaries of a 401(k) plan that, between 2016 and 2022, substantially reduced the recordkeeping fees charged to plan... Read More
BY David Witz | 3/12/2024
In a recent article published by NAPA titled “Litigation Landscape: Targeting TDFs, ‘Meaningful’ Markers and Pre-Litigation Letter Campaigns,” authors Bonnie Treichel and Nevin Adams ... Read More
BY NAPA Net Staff | 3/7/2024
Some recent suits—and federal court rulings—provide some timely reminders about the importance of a prudent process and following the plan document.  In this podcast episode, Nevin (Adams)... Read More
While plan sponsors are generally the focus of ERISA litigation, retirement plan advisors can be a target of lawsuits for breach of fiduciary duties under the Employee Retirement Income Security Act... Read More
BY Nevin E. Adams, JD | 3/5/2024
The parties in yet another 401(k) excessive fee suit have come to terms after two years of litigation. The suit in question involved the fiduciaries of the $5.2 billion L3Harris Retirement Savings... Read More
BY Nevin E. Adams, JD | 2/29/2024
The ink was barely dry on the denial of a motion to dismiss the suit, when American Airlines filed a motion of summary judgement, claiming that “there is no genuine issue as to any material fact and... Read More
BY Nevin E. Adams, JD | 2/28/2024
A big plan has struck a big cash settlement in an excessive fee suit involving the use of proprietary investment products in its 401(k) plan. The suit was brought by a number of plaintiff-... Read More
BY Nevin E. Adams, JD | 2/27/2024
Litigation that involved a multiple employer plan (MEP), merging plans, a 3(38) investment advisor, a plan sponsor—and at one point an advisor (NFP)—has been resolved in favor of the fiduciary... Read More
BY Nevin E. Adams, JD | 2/23/2024
Looks like an American Airlines participant-plaintiff who argued that plan fiduciaries didn’t act in participants’ best interests in including funds managed by firms that allegedly favored ESG... Read More
BY Nevin E. Adams, JD | 2/23/2024
Yet another plan has been sued for breaching its fiduciary duties by using forfeitures to offset company contributions, rather than allocating those to remaining participant accounts. The target... Read More
BY Nevin E. Adams, JD | 2/20/2024
The Department of Labor (DOL) has gone to court to protect retirement plan assets in a case of alleged embezzlement by a TPA. The DOL says that an emergency temporary restraining order (TRO) has... Read More
BY Nevin E. Adams, JD | 2/16/2024
A federal appellate court has affirmed the decision of a district court in rejecting fiduciary breach claims in the selection/retention of proprietary funds—noting evidence of a "robust process" in... Read More
BY Nevin E. Adams, JD | 2/15/2024
Another suit has been filed against a large employer for allegedly not acting in participants’ best interest in their use of forfeitures—but with some twists in the arguments. The target this time... Read More
BY Nevin E. Adams, JD | 2/14/2024
The parties in an excessive fee suit—that also raised issues regarding an arbitration clause—are “…pleased that after years of hard-fought litigation, they are able to present for preliminary... Read More
BY NAPA Net Staff | 2/7/2024
Another of the BlackRock target date fund (TDF) suits comes to a conclusion, the Wall Street Journal takes a peek at managed accounts—and Nevin and Fred ponder the implications for glidepaths. To... Read More
BY Nevin E. Adams, JD | 2/6/2024
What may be the first case of an employee alleging a fiduciary breach by their employer’s health care practices has just been filed. Johnson & Johnson has been sued (Lewandowski v. Johnson... Read More
BY Nevin E. Adams, JD | 2/5/2024
In the suit, filed in August 2021, participant-plaintiffs alleged that the fiduciaries of the $310 million SeaWorld Parks and Entertainment 401(k) Plan, and the SWBG, LLC 401(k) Plan breached their... Read More
BY Nevin E. Adams, JD | 2/1/2024
Another 401(k) excessive fee suit has been dismissed—because the participant bringing suit suffered no injury, and thus, had no grounds to bring suit according to a federal court. The suit—brought... Read More
BY Nevin E. Adams, JD | 1/30/2024
Yet another of the suits alleging that plan fiduciaries “chased low fees” and were inattentive to performance results has been dismissed. This was another of the series of roughly a dozen suits... Read More
Retirement plan litigation continues at a rapid pace and with massive, surprisingly quick, settlement numbers. The last quarter of 2023 saw a continued variety of litigation under the Employee... Read More

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