ERISA Violations
Russelectric ESOP Shares Sold at Less Than Fair Market Value ERISA Class Action
Towards the end of his life, the founder of Russelectric, Inc., Raymond Russell, gave 30% of his company stock to its employees as a retirement benefit, through the Russelectric Inc. Employee Stock Ownership Plan (ESOP). However, the complaint alleges, after Russell died, “the company, at the direction and for the benefit of the founder’s heirs, Read more
Packaging Corporation of America 401(k) Plan Fiduciary Duty ERISA Class Action
This class action concerns the Packaging Corporation of America Retirement Savings Plan for Salaried Employees. The complaint names the company (PCA), its Board of Directors, and its Benefits Administration Committee as defendants, alleging that they violated the Employee Retirement Income Security Act (ERISA) by letting the plan pay high recordkeeping and administrative fees, and by Read more
Dartmouth-Hitchcock Retirement Plans Breach of Fiduciary Duty Class Action
The Dartmouth-Hitchcock Retirement Plan and the Dartmouth-Hitchcock Employee Investment Plan are governed by the Employee Retirement Income Security Act (ERISA). This class action brings suit for those it says owe fiduciary duties to these plans, including Dartmouth-Hitchcock Clinic, its Board of Trustees, its Administrative Investment Oversight Committee, and the members of the Board and Committee Read more
L3Harris Retirement Plan Breach of Fiduciary Duties ERISA Class Action
The fiduciary duties of loyalty and prudence have been called “the highest known to the law.” This class action brings suit for breach of these duties against L3Harris Technologies, Inc., its Board of Directors, the Investment Committee of L3Harris Technologies, and the committee’s members. The complaint alleges that these defendants did not monitor the costs Read more
Raytheon Retirement Plan Changes and Benefit Payouts ERISA Class Action
This class action concerns retirement benefits, bringing suit against Raytheon Company, the Raytheon Bargaining Retirement Plan, and the plan’s administrator. The complaint alleges that these defendants changed rules for the plan without notice to the participants and did not pay out the full benefits that plan members who had a temporary separation from the company Read more
Vi-Jon Prohibited Transaction for Employee Stock Ownership Plan Class Action
The complaint for this class action brings suit under the Employee Retirement Income Security Act (ERISA) on behalf of the Vi-Jon Employee Stock Ownership Plan (ESOP). The complaint alleges that the defendants in this case conducted a prohibited transaction that violated ERISA and damage the ESOP’s participants. The defendants are the parties who participated in Read more
Ryder Noncompliant COBRA Notice Class Action
When employees leave a larger company that provided them with health insurance, they have the choice of continuing that insurance coverage for a limited period of time. This is permitted by the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA). The complaint for this class action alleges that, in order to save money, Ryder System, Read more
Ricoh Retirement Plan Unreasonable Recordkeeping Fees Class Action
Employer retirement plans are governed by the Employee Retirement Income Security Act (ERISA), which requires that fiduciaries for the plan fulfill duties of prudence and loyalty to the plan. This class action brings suit against Ricoh USA, Inc., its Board of Directors, its Ricoh Retirement Plans Committee, and the members of the latter two groups, Read more
General Motors Inadequate COBRA Notice Class Action
This class action against General Motors, LLC (GM) has nothing to do with automobiles. Instead, it brings suit under the Employee Retirement Income Security Act (ERISA). It alleges that GM did not give employees who participated in its General Motors Health Care Program Plan adequate notice that they could continue their health insurance coverage, after Read more
Bessemer Profit Sharing Plan Self-Dealing Class Action
The complaint for this class action alleges that Bessemer Trust Company and its Profit Sharing Plan Committee have breached their duties of prudence and loyalty and have not managed the company’s profit sharing plan in the best interests of the participants. Instead, the complaint alleges, they have engaged in self-dealing, “using the Plan as an Read more
