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
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Litigation
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
BY Nevin E. Adams, JD | 4/18/2023
“Following several years of thorough and active litigation…including numerous dispositive and procedural motions, full discovery, and preparation for a twelve-day jury trial originally scheduled for... Read More
BY John Sullivan | 4/18/2023
The Department of Labor (DOL) filed its notice of appeal on Friday of a ruling that struck down its guidance pertaining to a fiduciary duty regarding rollovers.
“The notice of appeal is in line... Read More
BY Nevin E. Adams, JD | 4/12/2023
Another Midwestern federal court has found that the plaintiffs in a 401(k) excessive fee suit have failed to make their case.
This suit had been brought by participant-plaintiffs Ruth Williams,... Read More
BY Nevin E. Adams, JD | 4/10/2023
The plaintiffs had claimed the plan fiduciaries had “an imprudent and disloyal preference for its own proprietary funds” — but have now come to terms.
Back in September of 2022, participant-... Read More
BY Nevin E. Adams, JD | 4/10/2023
Plaintiffs in two of the recently dismissed suits involving the BlackRock LifePath target-date funds have announced their intentions to appeal those losses.
The plaintiffs here are those related... Read More
BY Nevin E. Adams, JD | 4/6/2023
An excessive fee suit with a “complicated procedural history” and one that a federal judge says “appears to be a lawsuit in search of a theory” has, once again, culminated in a win for the plan... Read More
BY Ted Godbout | 4/4/2023
While a flood of lawsuits from the plaintiff’s bar continues at an unprecedented rate, top ERISA attorneys at an April 3 workshop session at the NAPA 401(k) Summit debated whether recent successes... Read More
BY Nevin E. Adams, JD | 3/31/2023
Claiming that the suit by 25 state attorneys general “rests on a false premise,” the Labor Department is pushing back on a motion to forestall implementation of the so-called ESG regulation.
More... Read More
BY Nevin E. Adams, JD | 3/30/2023
A federal judge has denied the Labor Department’s motion to move a suit involving the so-called ESG regulation from a federal court in Texas to Washington, DC.
U.S. District Judge Matthew J.... Read More
BY Nevin E. Adams, JD | 3/29/2023
Another excessive fee suit with participant-plaintiffs represented by two active ERISA litigants — has been dismissed on a number of grounds.
The defendants in this case — DISH Network... Read More
BY Nevin E. Adams, JD | 3/27/2023
Following a United States Supreme Court directive, a federal court has reconsidered its earlier conclusions in an excessive fee case.
Now, it’s been awhile, but you may recall that the case[i] (... Read More
BY Nevin E. Adams, JD | 3/24/2023
Commenting that “the Florida court’s analysis is rooted in a fundamental legal error,” the Department of Labor says it may appeal a ruling that upended its guidance pertaining to fiduciary duty... Read More
BY Nevin E. Adams, JD | 3/22/2023
Eli Lilly has withdrawn its motion for attorney fees and costs—a move that says a lot about the cost of litigation in both time and money.
You may recall that the defendants in this case are the... Read More
BY Nevin E. Adams, JD | 3/20/2023
Live Nation finds itself in the crosshairs of litigation — and it has nothing to do with Taylor Swift tickets.
As it turns out, Live Nation Entertainment Inc. (which merged with TicketMaster in... Read More
BY Nevin E. Adams, JD | 3/16/2023
Another excessive fee suit involving proprietary funds has settled a little more than a year after the suit was filed.
In this one plaintiffs Jubril Pecou and Ashley Schiefer (who joined the suit... Read More
BY Nevin E. Adams, JD | 3/16/2023
A $1.6 billion 403(b) plan has settled an excessive fee suit for $6 million.
The suit — brought by participants Susan McNeilly and Carla Martz of the Spectrum Health System 403(b) plan and... Read More
BY Nevin E. Adams, JD | 3/14/2023
An excessive fee suit targeting a $5.9 billion 401(k) plan has been dismissed — with prejudice.
Fending off this particular lawsuit was Kroger and the fiduciaries of the Kroger 401(k) Retirement... Read More
BY Nevin E. Adams, JD | 3/13/2023
The terms in an excessive fee suit settlement announced last fall have finally been revealed.
The plaintiffs here — Douglas G. Bailey, Jason J. Hayes and Marianne Robinson — who are two former and... Read More
BY NAPA Net Staff | 3/9/2023
In this podcast episode Nevin (Adams) & Fred (Reish) take a look at the new litigation landscape for ERISA plans, including an update on suits involving the BlackRock LifePath target-date funds,... Read More
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