fbpx

MSCS, Matrix Prohibited Transactions in Retirement Plans ERISA Class Action

This class action is about prohibited transactions involving mutual fund fees taken from two retirement plans, the MBA Engineering, Inc. Employees 401(k) Plan and the MBA Engineering, Inc. Cash Balance Plan. The complaint alleges that the fees removed from the plan total at least $40 million and possibly as much as $400 million and that  Read more

ERISA Book on Desk

Adventist Health Plan Must Meet ERISA Requirements, Says Class Action

When is a company’s employee health plan governed by the Employee Retirement Income Security Act (ERISA)? Adventist Health System West (AHW), which does business as Adventist Health offers the Adventist Health Employee Medical Plan—Engaged!, which it claims is a church plan and does not fall under ERISA. The complaint brings suit against the complaint, the  Read more

An Adventist Health Facility

WBBQ Employee Stock Ownership Plan Prohibited Transactions ERISA Class Action

This class action concerns a company retirement plan, the WBBQ Employee Stock Ownership Plan (ESOP) that owns stock in W BBQ Holdings, Inc. The complaint alleges that the ESOP trustee, Argent Trust Company, and the company’s controlling managers and shareholders, Herbert, Gregor, and Stuart Wetanson, have violated ERISA by engaging in prohibited transactions and breaching  Read more

Brushing Barbeque Sauce on Ribs

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

Vi-Jon Name and Logo

Symbria Employee Retirement Plan Prohibited Transactions ERISA Class Action

Argent Trust Company, the first defendant in this case, is the trustee for the Symbria Inc. Employee Stock Ownership Plan. Argent oversaw the purchase of shares of Symbria for the plan that the complaint alleges were bought at an inflated price, saddling the plan with forty years of debt and a loss of value. The  Read more

Symbria Logo

Isagenix Employee Stock Ownership Plan ERISA Violations Class Action

This class action is about the Isagenix Worldwide, Inc. Employee Stock Ownership Plan (ESOP). It is brought against Argent Trust Company, the trustee of the plan, and four individuals, for a transaction in which Argent bought shares of Isagenix from the four individuals on behalf of the plan. The complaint alleges that the value of  Read more

Argent Trust Name and Logo

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

Sequoia Stylized Tree Logo

United Health Plans “Cross-Plan Offsetting” ERISA Class Action

Healthcare plans are governed by a law popularly known as ERISA, the Employee Retirement Income Security Act. This class action brings suit against a number of companies in the United Health group for something called “cross-plan offsetting,” in which the companies use the assets of one plan to offset losses in another.  Read more

Stethoscope on Hundred-Dollar Bills

Shell Oil 401(k) Plan Fiduciary Duties ERISA Class Action

The Employee Retirement Income Security Act (ERISA) governs retirement plans and other benefits at large companies and specifies that plan administrators and trustees have a fiduciary duty to act for the exclusive benefit of plan participants. In this class action, the complaint alleges that Shell Oil Company and various other defendants, some associated with Fidelity  Read more

Shell Logo Attached to Gas Station Roof Against Blue Sky