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GE Retirement Plan Underperforming Funds and Breach of Fiduciary Duty ERISA Class Action

Federal law requires that most company retirement plans be managed for the sole benefits of those enrolled in the plans. But the complaint for this class action alleges that General Electric and associated entities violated the Employee Retirement Income Security Act (ERISA) with its Retirement Savings Plan by favoring underperforming GE-related funds as investments and  Read more

Rising Bar Graph on Chalkboard Titled "Retirement Plan"

Wells Fargo Unlawful Payment of Expenses from Trust Funds Class Action

This case is built on top of another case. Royal Park Investments (RPI) sued Well Fargo in Royal Park Investments SA/NV v. Wells Fargo Bank, N.A., No. 1:14-cv-09764-KPF-SN (S.D.N.Y.), claiming that Wells Fargo had failed to fulfill its duties as a trustee of two of RPI’s trusts, allegedly damaging RPI and the classes’ certificate holders.  Read more

Wells Fargo Sign with Stagecoach Image

EpiPen Pharmacy Benefits ERISA Class Action

Pharmacy benefit managers (PBMs) OptumRX, ExpressScripts, and CVS Caremark have more than $200 billion per year in revenue and control almost 80% of the industry—and the complaint for this class action alleges that they do it by engaging in schemes for their own profit, violating their fiduciary duties to health plan consumers. Over time, the  Read more

Northrop Grumman 401(k) ERISA Settlement

This settlement resolves class action litigation that has been pending since 2006, with a shifting group of defendants (currently, the Northrop Grumman Corporation Administrative Committees to the Northrop Grumman Savings Plan and Financial Security and Savings Program, the Northrop Grumman Corporation Investment Committees to the Northrop Grumman Savings Plan and Financial Security and Savings Program,  Read more

Apollo Global Management Fraudulent “Restructuring” Class Action

This class action alleges that Apollo Global Management, LLC orchestrated a fraudulent “restructuring” of CEVA Investments Limited (CIL), in breach of its fiduciary duty, that extinguished the value of shares held by its CEVA-employee investors for the benefit of Apollo. The employee investor plaintiffs believe that their losses in this restructuring amounted to more than  Read more

Massachusetts Financial Services Plan Breach of Fiduciary Duty ERISA Class Action

When a company administers a defined-contribution retirement plan, the complaint for this class action says, the potential for violating its fiduciary duties can be high. The complaint alleges that fiduciaries for Massachusetts Financial Services (MFS) Company’s two plans—its Defined Contribution Plan and its MFSavings Retirement Plan—breached their duties under ERISA, executed prohibited transactions, and did  Read more

Chemonics Employee Plan Inflated Price Stock Purchase ERISA Class Action

This class action alleges that GreatBanc Trust, a trustee for the Chemonics International, Inc. Employee Stock Ownership Plan, violated the Employee Retirement Income Security Act (ERISA) as well as its fiduciary duties in buying Chemonics International stock at prices higher than fair market value.  Read more

Travelport ERISA Class Action Lawsuit

This class action lawsuit claims that Travelport Legacy Pension Plan violated the Employee Retirement Income Security Act by miscalculating pensioners’ benefits and breaching fiduciary duties.  Read more

Marriott ERISA Class Action Lawsuit

            This lawsuit claims that Marriott violated the Employee Retirement Income Security Act by failing to provide participants and beneficiaries in the plan with adequate notice of their right to continue their health coverage upon the occurrence of a “qualifying event.”  Read more

Deutsche Bank Fiduciary Breach ERISA Class Action

This class action lawsuit alleges that Deutsche Bank Americas Holding Corp. and other fiduciaries of the Deutsche Bank Matched Savings Plan breached duties imposed by the Employee Retirement Income Security Act (ERISA) by engaging in prohibited transactions and unlawful self-dealing with regard to selecting investments, to the the detriment of the Plan, its participants and  Read more