Breach of Fiduciary Duty
Costco 401(k) Retirement Plan Breach of Fiduciary Duty Class Action
Company retirement plans are governed by the Employee Retirement Income Security Act (ERISA). The complaint for this class action claims, “The law is settled that ERISA fiduciaries have a duty to evaluate fees and expenses when selecting investments as well as a continuing duty to monitor fees and expenses of selected investments and remove imprudent Read more
Estee Lauder 401(k) Plan Breach of Fiduciary Duty Class Action
The Employee Retirement Income Security Act of 1974 (ERISA) governs retirement plans at larger companies. The complaint for this class action alleges that Estee Lauder, Inc., its Board of Directors, and the Estee Lauder Inc. Fiduciary Investment Committee, alleging that these defendants breached their fiduciary duties to the Estee Lauder Companies 401(k) Savings Plan for Read more
KeyCorp 401(k) Plan Expenses and Oversight Class Action
When a company sets up a retirement plan for its employees, the people overseeing the plan have a fiduciary duty to the members of the plan. They must act in the interests of those members and not in the interest of themselves, the company, or any other party. The complaint for this class action alleges Read more
Alaska USA Federal Credit Union Auto Loan Markups Class Action
Consumers want to receive the best interest rates available to them. The complaint for this class action, however, alleges that Alaska USA Federal Credit Union (AFCU) and its Board of Directors allow auto dealers to mark up the interest rates on its auto loans. The complaint claims that this violates the Washington Consumer Protection Act Read more
John Hancock 401(k) Plan Management ERISA Class Action
Those who manage retirement plans have a fiduciary duty to plan participants. This means that they must act in the interest of the plan participants and beneficiaries. The complaint for this class action alleges that those managing the John Hancock Life Insurance Company (USA) acted in the interests of the company instead, by inappropriately favoring Read more
Allina Health System Retirement Plan Settlement
Allina Health System is settling a class action about its 403(b) and 401(k) retirement plans brought under the Employee Retirement Income Security Act (ERISA). The complaint alleged that the those in charge of the plans violated their fiduciary duties in connection with the monitoring and selection of the plans’ investment options. Read more
Sutherland Global Services 401(k) Fiduciary Duties ERISA Class Action
The Employee Retirement Income Security Act of 1974 (ERISA) governs a number of benefits provided by larger employers to their employees. In this case, the benefit is the Sutherland Global Services, Inc, 401(k) plan. The complaint alleges that Sutherland Global Services, Clearview Group, and a number of individuals have breached their fiduciary duties to the Read more
Prudential Insurance Retirement Plan Mismanagement Class Action
Many employee retirement plans as governed by the Employee Retirement Income Savings Act of 1974 (ERISA). This class action, about the Prudential Employee Savings Plan, alleges that Prudential Insurance Company of America, the plan’s Administrative Committee, and its Investment Oversight Committee chose investment products for the plan that offered advantages to Prudential and its subsidiaries Read more
United Behavioral Health Guidelines and Rejected Claims Class Action
United Behavioral Health (UBH) “administers mental health and substance use disorder benefits for commercial welfare benefit plans,” says the complaint for this class action. But, according to the complaint, UBH’s guidelines for accepting or rejecting treatment under those plans have been flawed and were rejected in a previous class action. This class action seeks to Read more
Goldman Sachs 401(k) Breach of Fiduciary Duty ERISA Class Action
The Employee Retirement Income Security Act of 1974 (ERISA) governs various types of employment benefits, including retirement plans. The complaint for this class action alleges that the Goldman Sachs Group, Inc. and the Goldman Sachs 401(k) Plan Retirement Committee “have breached their fiduciary duties and engaged in unlawful self-dealing with respect to the plan…” Read more