Breach of Fiduciary Duty
Nokia Savings 401(k) Plan Breach of Fiduciary Duties Class Action
The Employee Retirement Income Security Act (ERISA) imposes certain duties on those who are responsible for retirement plans, like the Nokia Savings/401(k) Plan. This class action brings suit against Nokia of America, its Board of Directors and its members during the class period, and the Nokia 401(k) Committee and its members during the class period. Read more
UBS Financial YES Program High Risks and Conflicts of Interest Class Action
This class action brings suit against UBS Financial Services, Inc. for its Yield Enhancement Strategy (YES) program. The complaint makes several allegations, including that UBS concealed that the potential risks of the program were larger than the potential gains, that the accounts enabled UBS to double-dip on fees, and that UBS had a conflict of Read more
Exelon Retirement Plan Breach of Fiduciary Duties ERISA Class Action
Exelon Corporation generates energy, then sells or distributes it. This class action brings suit against the company, its Board of Directors, its corporate investment committee, and various individuals, alleging that these defendants breached their fiduciary duties of prudence and loyalty to the Exelon Corporation Employee Savings Plan, a retirement plan governed by the Employee Retirement Read more
Raydon Employee Stock Ownership Plan ERISA Settlement
This settlement resolves a class action against Raydon Corporation, the ESOP Committee of the Raydon Corporation Employee Stock Ownership Plan, Lubbock National Bank, and other parties over a 2015 transaction in which the ESOP bought 100% of the shares of Raydon, including shares purchased from the former owners, their relatives, and their family trusts. The Read more
Kroger 401(k) Plan Breach of Fiduciary Duty on Fees ERISA Class Action
Like many large companies, the Kroger Company has a retirement plan for its employees. The Kroger 401(k) Retirement Savings Account Plan is governed by the Employee Retirement Income Savings Act (ERISA), which is meant to protect the beneficiaries of the plan. This class action brings suit against Kroger and its Board of Directors, alleging they Read more
CDI Corporation 401(k) Retirement Plan Settlement
CDI Corporation is paying $1.8 million to settle a class action alleging that it breached its fiduciary duties under the Employee Retirement Income Security Act (ERISA) with respect to the CDI Corporation 401(k) Savings Plan. The complaint alleged that it breached the duties of loyalty, care, and prudence by failing to keep down plan expenses Read more
Symbria Employee Retirement Plan Prohibited Transactions ERISA Class Action
Argent Trust Company, the first defendant in this case, is the trustee for the Symbria Inc. Employee Stock Ownership Plan. Argent oversaw the purchase of shares of Symbria for the plan that the complaint alleges were bought at an inflated price, saddling the plan with forty years of debt and a loss of value. The Read more
Deloitte Retirement Funds Breach of Duty of Prudence ERISA Class Action
The Employee Retirement Income Security Act (ERISA) places the duty of prudence on fiduciaries of retirement plans. This class action names Deloitte, LLP, its Board of Directors and its members, and the Retirement Committee of Deloitte, LLP and its members as defendants. It alleges they breached their fiduciary duties to two retirement plans, the Deloitte Read more
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
