ERISA Violations
Kinder Morgan Reduction of Retirement Benefits ERISA Class Action
The first paragraph of the complaint calls this class action “a case study in what can happen to the retirement benefits of employees after a series of corporate acquisitions and divestitures.” It brings suit against Kinder Morgan, Inc., the Kinder Morgan Retirement Plan A, and two individuals, the plan’s claims administrator and a member of Read more
Principal Life Breach of Fiduciary Duty to Retirement Plans ERISA Class Action
Employee savings and retirement plans are governed by the Employee Retirement Income Security Act (ERISA) and must be managed for the sole benefit of the participants and beneficiaries. The complaint for this class action brings suit against the Principal Life Insurance Company, its Benefit Plans Administrative and Investment Committees, and the members of those committees, Read more
Columbus Regional Retirement Plan Fiduciary Duties Class Action
When Columbus Regional Healthcare System, Inc. was acquired by Piedmont Healthcare, Inc. in 2018, its 403(b) retirement plan was terminated. The complaint for this class action alleges that Columbus mishandled this former retirement plan, breaching its fiduciary duties, violating the Employee Retirement Income Security Act (ERISA), and costing participants money. Read more
Coca-Cola Bottlers’ 401(k) Plan Breach of Fiduciary Duties ERISA Class Action
Retirement plans, such as the Coca-Cola Bottlers’ Association 401(k) Retirement Savings Plan, which are established for large companies, are governed by the Employee Retirement Income Security Act (ERISA). The complaint for this class action alleges that the Coca-Cola Bottlers’ Association (CCBA) and certain persons responsible for managing the plan have breached their fiduciary duties to Read more
Mercedes-Benz Retirement Plan Breach of Fiduciary Duties ERISA Class Action
The Employee Retirement Security Income Act (ERISA) was intended to protect people who have private retirement plans with their companies. Those who are in charge of those plans have fiduciary duties towards the participants and beneficiaries, including a duty to make sure the fees and expenses of those plans are reasonable. This class action brings Read more
Tech Benefits Welfare Plan Prohibited Transactions ERISA Class Action
The complaint for this class action brings suit against Sequoia Benefits and Insurance Services, LLC and Gregory S. Golub, for breach of fiduciary duty to the RingCentral, Inc. Welfare Benefits Plan and other similar plans. The complaint not makes not only the usual allegations of high costs, but alleges, “Defendants have collected more than $100 Read more
Morgan Stanley Deferred Compensation “Cancellation Rule” Class Action
At issue in this class action is deferred compensation for financial advisors, in association with Morgan Stanley, Morgan Stanley Smith Barney, LLC, and the Morgan Stanley Compensation Management Development and Succession Committee. The complaint alleges that financial advisors may lose substantial amounts of their deferred compensation when they leave the company, and that this is Read more
Bank of America Deficient COBRA Notice to Separating Employees Class Action
The Consolidated Omnibus Budget Reconciliation Act (COBRA) sets forth rules that allow employees of certain large employers to retain their health insurance benefits after they separate from the company. However, the complaint for this class action alleges that the Bank of America (BOA) Corporation Corporate Benefits Committee deliberately gives departing employees inadequate information on the Read more
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
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