ERISA Violations

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

WakeMed Retirement Plan Fiduciary Duties Settlement

WakeMed and its insurer are paying a little less than a million dollars to settle a class action alleging the company and other parties breached their fiduciary duties to the WakeMed Retirement Savings Plan. The complaint alleged that WakeMed chose and maintained certain mutual funds for the plan that were more expensive than other, similar  Read more

Northern Trust Retirement Plan Imprudent Investment Options Class Action

This class action brings suit against the Northern Trust Company and its Employee Benefit Administrative Committee and its members for failing to properly monitor and replace poorly-performing investment options in the company’s retirement plan, the Northern Trust Company Thrift-Incentive Plan. The complaint alleges that the defendants have breached their fiduciary duties under the Employee Retirement  Read more

Brenntag Profit-Sharing Plan Breach of Fiduciary Duty ERISA Settlement

This settlement resolves a class action against Brenntag North America, Inc., its Board of Directors, and its Investment and Oversight Committee. The complaint alleged that these parties breached the fiduciary duties of loyalty, care, and prudence owed to the Brenntag USA Profit-Sharing Plan, because they did not try to reduce the plan’s expenses or properly  Read more

Kerry Breach of Fiduciary Duties to 401(k) Plan Class Action

The first sentence of the Introduction to this class action is, “The essential remedial purpose of the Employee Retirement Income Security Act (‘ERISA’) is ‘to protect the beneficiaries of private pension plans.’” The plan here is the Kerry, Inc. Savings Plan, an employee retirement plan. The complaint brings suit against Kerry, Inc., its Board of  Read more

Kaleida Health 403(b) and 401(k) Breach of Fiduciary Duties Class Action

This class action brings suit against Kaleida Health, its Board of Directors, its Retirement Plan Committee, and a number of related individuals, under the Employee Retirement Income Security Act (ERISA). The complaint alleges that these defendants breached their fiduciary duties to the company’s retirement plans by “incur[ring] expenses that were excessive, unreasonable and/or unnecessary.”  Read more

Cerner Corporation Retirement Plan ERISA Settlement

Cerner Corporation is paying more than $4 million to settle a class action alleging it breached its fiduciary duties under the Employee Retirement Income Security Act of 1974 (ERISA) in connection with its retirement plan. The complaint alleged that the company offered unnecessarily expensive investment options, paid excessive administrative fees, and concentrated investments in Cerner  Read more

Teva Pharmaceuticals Retirement Plan Settlement

This settlement resolves a class action against Teva Pharmaceuticals USA, Inc., its board of directors, and the investment committee of its retirement plan. The complaint alleged that these parties breached their fiduciary duties to the Teva Pharmaceuticals Retirement Savings Plan, by not keeping plan expenses down and not properly choosing and monitoring its investment options.  Read more

New York Life 401(k) Options Primarily Profit NYL Class Action

The complaint for this class brings suit against defendants New York Life Insurance Company, the Boards of Trustees for two of its retirement plans, and individual members of the plans’ Boards, all of whom it names as fiduciaries of the plans. The complaint alleges that “this suit is about corporate self-dealing and the prohibited transfer  Read more