Breach of Fiduciary Duty
Isagenix Employee Stock Ownership Plan ERISA Violations Class Action
This class action is about the Isagenix Worldwide, Inc. Employee Stock Ownership Plan (ESOP). It is brought against Argent Trust Company, the trustee of the plan, and four individuals, for a transaction in which Argent bought shares of Isagenix from the four individuals on behalf of the plan. The complaint alleges that the value of Read more
Fleet Group Queens Hotel Project and EB-5 Program Investors Class Action
The EB-5 Immigrant Investor Program allows investors in US businesses to apply for permanent residence in the US for themselves and their immediate families under certain conditions. This class action is brought by a group of investors aspiring to qualify for that program who claim they were duped into investing in a fraudulent project for Read more
Charles Schwab Earnings from Intelligent Portfolios Program Class Action
Digital programs are increasingly used to automate everything. This class action brings suit against Charles Schwab Investment Advisory, Inc. over its digitized investment-advice “robo-advisor” program Schwab Intelligent Portfolios (SIP program). The complaint alleges that, while the SIP program advertises itself as being lower-cost than other programs in certain ways, it involves “self-dealing” by the company Read more
Columbia University 403(b) Plan Settlement
This settlement resolves two consolidated class actions against the Trustees of Columbia University in the City of New York about the management, operation, and administration of the university’s 403(b) plans, including the Retirement Plan for Officers of Columbia University and the Columbia University Voluntary Retirement Savings Plan. The complaint alleged violations of the Employee Retirement Read more
Robinhood Blocked Buy Trades of Certain Stocks California Class Action
A number of class actions have been filed on the subject of restricted trading in GameStop and other popular securities in January of 2021, blaming it on a desire among certain short-sellers to stop the rise of those securities. This class action centers on the same blocking of trading in those same stocks, but blames Read more
Wells Fargo Cooperation in Ponzi Scheme Class Action
Banks are required to follow Know Your Customer rules and to know enough about its customers’ businesses to recognize whether their transactions are reasonable for their purposes or possibly fraudulent. The complaint for this class action alleges Wells Fargo Bank, NA did not give sufficient scrutiny to customers Johanna Garcia and her companies MJ Capital Read more
Baptist Health of South Florida 403(b) Plan Fiduciary Duties Class Action
The Employee Retirement Income Security Act (ERISA) “imposes strict fiduciary duties of loyalty and prudence upon employers and other plan fiduciaries[,]” says the complaint for this class action. It brings suit against Baptist Health of South Florida, Inc. (BHSF), its Board of Directors, and its Retirement Plan Committee, alleging that these entities breached those duties Read more
John Hancock Life Insurance Retirement Plan Settlement
John Hancock Life Insurance Company (USA) and the John Hancock US Benefits Committee are spending $14 million to settle a class action about whether they fulfilled their duties under the Employee Retirement Income Security Act of 1974 (ERISA). The complaint alleged that they did not properly monitor recordkeeping fees or the fees and performance of Read more
BlackRock Retirement Plan ERISA Settlement
BlackRock, Inc. and related parties are settling a class action alleging they violated the Employee Retirement Income Savings Act (ERISA) by choosing certain BlackRock-managed funds as investment options in its Retirement Savings Plan, a 401(k) employee retirement plan. The complaint alleged that these choices caused the plan to skip superior investment choices, pay BlackRock and Read more
Lowe’s 401(k) Plan Litigation Settlement
A partial settlement has been reached with Lowe’s Companies, Inc. and the Administrative Committee of Lowe’s 401(k) retirement plan, in a class action suit against these parties and Aon Hewitt Investment Consulting, Inc. The complaint alleged that the defendants breached their fiduciary duties to the plan under the Employee Retirement Income Security Act (ERISA) when Read more