Breach of Fiduciary Duty
Kerry Breach of Fiduciary Duties to 401(k) Plan Class Action
The first sentence of the Introduction to this class action is, “The essential remedial purpose of the Employee Retirement Income Security Act (‘ERISA’) is ‘to protect the beneficiaries of private pension plans.’” The plan here is the Kerry, Inc. Savings Plan, an employee retirement plan. The complaint brings suit against Kerry, Inc., its Board of Read more
Kaleida Health 403(b) and 401(k) Breach of Fiduciary Duties Class Action
This class action brings suit against Kaleida Health, its Board of Directors, its Retirement Plan Committee, and a number of related individuals, under the Employee Retirement Income Security Act (ERISA). The complaint alleges that these defendants breached their fiduciary duties to the company’s retirement plans by “incur[ring] expenses that were excessive, unreasonable and/or unnecessary.” Read more
Cerner Corporation Retirement Plan ERISA Settlement
Cerner Corporation is paying more than $4 million to settle a class action alleging it breached its fiduciary duties under the Employee Retirement Income Security Act of 1974 (ERISA) in connection with its retirement plan. The complaint alleged that the company offered unnecessarily expensive investment options, paid excessive administrative fees, and concentrated investments in Cerner Read more
Teva Pharmaceuticals Retirement Plan Settlement
This settlement resolves a class action against Teva Pharmaceuticals USA, Inc., its board of directors, and the investment committee of its retirement plan. The complaint alleged that these parties breached their fiduciary duties to the Teva Pharmaceuticals Retirement Savings Plan, by not keeping plan expenses down and not properly choosing and monitoring its investment options. Read more
New York Life 401(k) Options Primarily Profit NYL Class Action
The complaint for this class brings suit against defendants New York Life Insurance Company, the Boards of Trustees for two of its retirement plans, and individual members of the plans’ Boards, all of whom it names as fiduciaries of the plans. The complaint alleges that “this suit is about corporate self-dealing and the prohibited transfer Read more
Principal Life Breach of Fiduciary Duty to Retirement Plans ERISA Class Action
Employee savings and retirement plans are governed by the Employee Retirement Income Security Act (ERISA) and must be managed for the sole benefit of the participants and beneficiaries. The complaint for this class action brings suit against the Principal Life Insurance Company, its Benefit Plans Administrative and Investment Committees, and the members of those committees, Read more
Columbus Regional Retirement Plan Fiduciary Duties Class Action
When Columbus Regional Healthcare System, Inc. was acquired by Piedmont Healthcare, Inc. in 2018, its 403(b) retirement plan was terminated. The complaint for this class action alleges that Columbus mishandled this former retirement plan, breaching its fiduciary duties, violating the Employee Retirement Income Security Act (ERISA), and costing participants money. Read more
Robinhood and Market Manipulation for GameStop and Others Class Action
The complaint for this action claims that three Robinhood companies manipulated the markets for certain stocks to mitigate its own risks. The complaint alleges that Robinhood Financial, LLC, Robinhood 2 Securities, LLC, and Robinhood Markets, Inc. took unfair actions for stocks of certain companies, like GameStop, to prevent buys, sell shares, and lower prices. Read more
Coca-Cola Bottlers’ 401(k) Plan Breach of Fiduciary Duties ERISA Class Action
Retirement plans, such as the Coca-Cola Bottlers’ Association 401(k) Retirement Savings Plan, which are established for large companies, are governed by the Employee Retirement Income Security Act (ERISA). The complaint for this class action alleges that the Coca-Cola Bottlers’ Association (CCBA) and certain persons responsible for managing the plan have breached their fiduciary duties to Read more
Mercedes-Benz Retirement Plan Breach of Fiduciary Duties ERISA Class Action
The Employee Retirement Security Income Act (ERISA) was intended to protect people who have private retirement plans with their companies. Those who are in charge of those plans have fiduciary duties towards the participants and beneficiaries, including a duty to make sure the fees and expenses of those plans are reasonable. This class action brings Read more