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BY Nevin E. Adams, JD | 6/12/2023
A participant in yet another mega 401(k) plan claims participants paid nearly twice what they might have for “fungible” recordkeeping services. This time it’s participant-plaintiff Matthew A.... Read More
ERISA litigation lawyer Jerry Schlichter has taken to social media to hunt for potential employee plaintiffs for a new brand of fiduciary litigation.  His law firm, Schlichter Bogard,... Read More
BY Nevin E. Adams, JD | 6/9/2023
A federal judge has dismissed a multi-billion plan fiduciaries motion to dismiss an excessive fee/fiduciary breach suit.   The defendants in this case—filed in the U.S. District Court for the... Read More
BY Nevin E. Adams, JD | 6/8/2023
The Department of Labor has pushed back on a lawsuit filed by a coalition of 25 state attorneys general that challenged its so-called ESG regulation. The coalition,[i] led by Texas Attorney... Read More
BY Nevin E. Adams, JD | 6/5/2023
Transitions to new recordkeeping platforms have been known to result in some bumps along the way—but a new lawsuit charges those overseeing and operating the federal government’s $766 billion Thrift... Read More
BY Nevin E. Adams, JD | 6/5/2023
A participant lawsuit claims that American Airlines has put retirement savings at risk by investing with managers and funds that “pursue leftist political agendas through environmental, social and... Read More
BY Nevin E. Adams, JD | 6/2/2023
A suit that claimed a $7.3 billion plan “stocked the Plan’s investment menu with their own proprietary index funds”—while “participants got the short end of the stick” is now seeking class action... Read More
BY John Sullivan | 5/31/2023
Evan Greebel, pharma bro Martin Shkreli’s lawyer and co-conspirator, lost his bid to protect his 401(k) from garnishment to pay restitution to his victims. The Supreme Court declined to hear the... Read More
BY Nevin E. Adams, JD | 5/30/2023
A 401(k) excessive fee suit has been given a green light to proceed to trial—relying almost exclusively on the assertions of those bringing suit to establish a “plausible” case for doing so. This... Read More
BY John Sullivan | 5/29/2023
Racing against a looming June 5 deadline, negotiators for President Joe Biden and House Speaker Kevin McCarthy worked late into Friday night in order to announce an agreement in principle on Saturday... Read More
BY Nevin E. Adams, JD | 5/24/2023
The parties in a two-year old 403(b) excessive fee suit against a $2.3 billion plan have come to terms.  The suit (Garnick v. Wake Forest Univ. Baptist Med. Ctr., M.D.N.C., No. 1:21-cv-00454... Read More
BY Nevin E. Adams, JD | 5/23/2023
A federal judge has approved the recommendation to certify a class in a proprietary fund suit—determining that even a “well-educated, well-informed, and careful investor”—might lack actual knowledge... Read More
BY Nevin E. Adams, JD | 5/22/2023
An excessive fee suit has moved past a motion to dismiss—apparently because of a slight shift in its arguments about recordkeeping services. This suit was filed by participant-plaintiff Michael... Read More
BY Nevin E. Adams, JD | 5/17/2023
Plaintiffs in two of the fiduciary breach suits involving plans that held the BlackRock Lifepath target-date funds have…folded. More specifically, the plaintiffs in cases involving Booz Allen... Read More
BY Nevin E. Adams, JD | 5/15/2023
Citing an “unlawful decision to elevate unrelated policy goals over the financial health of the Plans,” a new participant suit has charged three New York plans with jeopardizing the retirement... Read More
BY Nevin E. Adams, JD | 5/12/2023
You might think that all the multi-billion plans in America had been sued – and you’d be wrong. This time the target is the University of Vermont Medical Center – more specifically the practices... Read More
BY Nevin E. Adams, JD | 5/11/2023
The terms of a quickly settled excessive fee suit involving a 403(b) plan have come to light. The plan fiduciaries here are Springfield, Massachusetts-based Baystate Health Inc. – and they were... Read More
BY Nevin E. Adams, JD | 5/9/2023
An excessive fee suit where plan fiduciaries had prevailed on most issues – has now settled the remaining claims. The suit – filed in mid-2020 by seven former employees of Schneider Electric... Read More
BY NAPA Net Staff | 5/4/2023
On April 3, the Nevin & Fred podcast went on the road to San Diego for a live appearance in front of a standing room only crowd at the NAPA 401(k) Summit. Here’s part 2 of that live episode.... Read More
BY Nevin Adams JD | 5/1/2023
Snap, Crackle—and now, Pop! Another multi-billion 401(k) plan has won its case against allegations of excessive fees. The victor this time—winning dismissal of a proposed class action with... Read More
BY Nevin Adams JD | 4/30/2023
  A federal judge has tossed an excessive fee suit, failing to find much relevance in the plaintiffs’ expert’s perspectives.  This case involved some familiar parties but with some... Read More
BY Nevin Adams JD | 4/27/2023
Given another shot at making their case, the participant-plaintiffs in another of the suits targeting retirement plan holders of the BlackRock Lifepath target-date funds have struck out. As a... Read More
BY Nevin E. Adams, JD | 4/25/2023
Another federal court has refused to accept the assumption that all recordkeeping services are “fungible” – and tossed an excessive fee suit – again, and this time with prejudice. The plaintiffs... Read More
BY Nevin E. Adams, JD | 4/24/2023
The fiduciaries of the 99 Cents Only Stores have come to terms in an excessive fee suit involving their 401(k) plan – and for considerably more than…99 cents. That said, the relatively quick (the... Read More
BY Nevin E. Adams, JD | 4/19/2023
Terms of a proprietary fund suit settlement with Mutual of America have been revealed. The plaintiffs had claimed the plan fiduciaries had “an imprudent and disloyal preference for its own... Read More