L Brands 401(k) Plan Breach of Fiduciary Duty Class Action

Company retirement plans, like 401(k) plans, are governed by the Employee Retirement Income Security Act (ERISA), and those who handle them are fiduciaries, with the duties of prudence and loyalty to the participants. This class action brings suit against L Brands, Inc., L Brands Service Company, LLC, and the plan’s administrative committee, alleging that these  Read more

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Financial Engines Advisors Excessive Fee Information Class Action

The filing of a Motion to Compel is kicking off a new, October 2020 case, originating from a July 2018 class action. The original class action concerned mismanagement of the Home Depot’s FutureBuilder 401(k) plan; this new one seeks to compel Financial Engines Advisors, LLC (FE) to produce certain documents showing that FE charged the  Read more

Document Titled "401(k) Statement"

Northern Trust Retirement Plan Poorly-Performing Options Class Action

Company retirement plans are governed by the Employee Retirement Income Security Act of 1974 (ERISA). This includes the Northern Trust Company Thrift-Incentive Plan. This class action brings suit against the Northern Trust Company, its Employee Benefit Administrative Committee, and the Committee’s members, alleging that they have breached their fiduciary duties under the plan.  Read more

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Schwab DAF Charitable Fund Breach of Fiduciary Duties Class Action

This class action involves the Schwab donor-advised fund (DAF), a charitable entity that is part of the Schwab Charitable Fund. The complaint alleges that Schwab Charitable, the Schwab Board of Directors, and the Schwab Charitable Investment Oversight Committee have breached their fiduciary duties to the Schwab DAF, in violation of common law as well as  Read more

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Aetna 401(k) Plan Breach of Fiduciary Duty in Aetna-CVS Merger Class Action

What happens to 401(k) plans when two companies merge? This class action concerns the merger of Aetna, Inc. and CVS Health Corporation during which the Aetna 401(k) plan was converted into the CVS 401(k) plan. It brings suit on behalf of participants in the Aetna plan with Aetna stock in their accounts, claiming breaches of  Read more

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Biogen 401(k) Retirement Plan Breach of Fiduciary Duties Class Action

When companies establish 401(k) plans for their employees, the plans are governed under the Employee Retirement Income Security Act of 1974 (ERISA). Those who handle the plan are fiduciaries for it and, as such, they owe certain duties to the participants and beneficiaries. However, the fiduciaries of Biogen, Inc.’s 401(k) Savings Plan—Biogen, Inc., the Biogen,  Read more

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Nvidia 401(k) Plan Breach of Fiduciary Duties Class Action

Companies appoint various parties to manage and be responsible for the 401(k) plans for their employees. These people act as fiduciaries and are required under the Employee Retirement Income and Security Act of 1974 (ERISA) to carry out the fiduciary duties of loyalty and prudence. In this class action, the complaint claims that fiduciaries of  Read more

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JPMorgan 401(k) Plan ERISA Fee Settlement

A settlement fund of $9 million is resolving a class action against JPMorgan Chase Bank, NA, JPMorgan Chase & Company, and others involved with the company’s 401(k) Savings Plan. According to the complaint, the defendants breached their fiduciary duties and engaged in transactions prohibited by the Employee Retirement Income Security Act of 1974 (ERISA) in  Read more

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LinkedIn 401(k) Retirement Plan Fiduciary Duties Class Action

The Employee Retirement Income Security Act of 1974 (ERISA) governs the handling of company 401(k) plans—in this case, the LinkedIn Corporation 401(k) Profit Sharing Plan and Trust. This class action claims that those handling the LinkedIn plan have breached their fiduciary duties in regard to plan expenses and investment options. It brings suit against not  Read more

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Eversource 401(k) Plan Breach of Fiduciary Duties Class Action

The Eversource 401(k) plan, like most such plans, is governed by the Employee Retirement Income Security Act (ERISA). Those responsible for the plan include Eversource Energy Service, the Board of Directors of Eversource Energy Service and its members, and the Investment Management Committee and its members. The complaint for this class action contends that these  Read more

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