fbpx

NCL Corporation 401(k) Plan Breach of Fiduciary Duties Class Action

NCL Corporation, Ltd offers a retirement plan for its employees, the NCLC 401(k) Plan. This class action sues NCL and the plan’s administrator, NCL (Bahamas), Ltd., alleging they have breached their fiduciary duties of loyalty and prudence to the plan, by choosing poorly-performing investments, high-cost share classes, and recordkeeping services that charge excessive fees.  Read more

Hand Putting Coin in Piggybank Labeled "401(k)"

Southern Company Pension Plan Outdated Actuarial Calculations Class Action

This class action concerns a lowering of benefits in the Southern Company Pension Plan for married couples to pay for a qualified preretirement survivor annuity (QPSA) provision. The parties sued are the pension plan, Southern Company Services, Inc., and the Benefits Administration Committee, which the complaint alleges violate the Employee Retirement Income Security Act (ERISA)  Read more

Retirement Couple

Labcorp Retirement Plan Recordkeeping Fees ERISA Class Action

The Employee Retirement Income Security Act (ERISA) imposes the duties of loyalty and prudence on fiduciaries who look after retirement plans. In this case, the complaint alleges that Laboratory Corporation of America Holdings (Labcorp) has breached these duties to the Laboratory Corporation of America Holdings Employees’ Retirement Plan by “caus[ing] the Plan to pay unreasonable  Read more

Hands of Lab Worker in Blue Gloves

Cisco Systems 401(k) Poorly-Performing Investment Options Class Action

Defined contribution plans, like 401(k)s, have become the primary way for Americans to save for retirement. They are governed by the Employee Retirement Income Security Act (ERISA). The complaint for this class action alleges that Cisco Systems, Inc., its Board of Trustees, and the Administrative Committee for the Cisco Systems, Inc. 401(k) Plan breached their  Read more

Cisco Sign with Name and Logo in Front of Building

Stanley Black & Decker Retirement Plan Breach of Fiduciary Duties Class Action

This class action concerns the Stanley Black & Decker Retirement Account Plan, bringing suit under the Employee Retirement Income Security Act (ERISA). The complaint alleges that Stanley Black & Decker, Inc., its Board of Trustees, and the plan’s Administrative Committee breached their fiduciary duties to the plan in causing it to pay excessive recordkeeping fees  Read more

Sign at Stanley Black & Decker Headquarters

Citi Retirement Plan Poorly-Performing BlackRock TDFs ERISA Class Action

Defined contribution plans, such as 401(k) plans, have become the main form of retirement savings in the US. Unfortunately, companies do not have the same incentives to look after these plans as they did with defined benefit plans. The complaint for this class action alleges that Citigroup, Inc., its Board of Trustees, and the Administrative  Read more

Citi Logo on Building

Wintrust Financial Corp. Retirement Plan Imprudent Investments Class Action

The Wintrust Financial Corp. Retirement Savings Plan is a defined-contribution plan. This class action brings suit against Wintrust Financial Corp., its Board of Trustees, and the plan’s Administrative Committee, alleging that these fiduciaries breached their duties to the plan, to make sure that expenses were fair and reasonable and that investment options were prudent and  Read more

Wintrust Name on Large Building

North Memorial Health 401(k) Plan Breach of Fiduciary Duties Class Action

This class action concerns the North Memorial Health 401(k) Plan, alleging that the parties responsible for it—North Memorial Health Care and the Board of Directors of North Memorial Health Care and its members—breached their fiduciary duties to the plan under the Employee Retirement Income Security Act of 1974 (ERISA). The complaint alleges that in choosing  Read more

North Memorial Health Hospital

Nova Southeastern University 401(k) Breach of Fiduciary Duties Class Action

Did Nova Southeastern University, Inc. breach its fiduciary duties in its management of the University’s 401(k) plan for its faculty and staff? The complaint alleges that the university chose investments with poor performance and high-cost share classes, and paid excessive fees for recordkeeping and administration.  Read more

Nova Southeastern University

Boston College Retirement Plans High Costs, Low Returns ERISA Class Action

Boston College has two retirement plans, the Boston College 401(k) Retirement Plan I and the Boston College 401(k) Retirement Plan II. The complaint for this class action alleges that those responsible for the plans—the Trustees of Boston College and the Plan Investment Committee—have breach their fiduciary duties and mismanaged the plans in a way that  Read more

Boston College