Retirement Plans
Nemours Foundation Retirement Plan Breach of Duty of Prudence Class Action
The Nemours Foundation offers its employees a retirement plan, the Nemours Foundation Section 403(B) plan. The complaint for this class action alleges that Nemours has breached its fiduciary duty of prudence, by causing the plan to pay excessive administrative fees and by not choosing the investment share classes that have the lowest expenses. According to Read more
Universal Health Services 401(k) Plan Administration Settlement
This settlement resolves a class action against Universal Health Services, Inc. (UHS) and the UHS Retirement Plans Investment Committee alleging these entities violated the Employee Retirement Income Security Act (ERISA). The complaint alleged they breached their fiduciary duties in their administration of the plan. Read more
Coriant 401(k) Plan Breach of Fiduciary Duty Settlement
This settlement resolves a class action against Infinera Optical Networks, Inc., formerly known as Coriant Operations, Inc., on behalf of the Coriant 401(k) Plan. The complaint alleged that the company breached its fiduciary duties to the participants in the plan and engaged in prohibited transactions, in violation of the Employee Retirement Income Security Act (ERISA), Read more
L Brands 401(k) Breach of Fiduciary Duty ERISA Settlement
This settlement resolves a class action against certain L Brands entities (L Brands, Inc., L Brands Service Company, LLC, and the Retirement Plan Committee of the L Brands, Inc. 401(k) Savings and Retirement Plan) alleging they breached their fiduciary duties to the 401(k) plan under the Employee Retirement Income Security Act of 1974 (ERISA). The Read more
Old Dominion Retirement Plan Breach of Fiduciary Duty Class Action
Old Dominion Freight Line, Inc. has a retirement plan for its employees, the Old Dominion 401(k) Retirement Plan, which is governed by the Employee Retirement Income Security Act (ERISA). The complaint for this class action alleges that Old Dominion has breached its fiduciary duties of prudence and loyalty under ERISA by choosing high-priced investment options Read more
Baystate Health Retirement Plan Recordkeeping Fees Class Action
Those responsible for retirement plans have a duty to exercise the “care, skill, prudence, and diligence” of a prudent person in their plan management. The complaint for this class action brings suit against Baystate Health, Inc. and the its Board of Directors, alleging they did not fulfill their fiduciary duty to the Baystate Health, Inc. Read more
Sprint Calculation of JSA Annuity Benefits Class Action
Sprint Communications, LLC sponsors a retirement plan for its employees that offers a single life annuity (SLA) or joint and survivor annuity (JSA). This class action brings suit against Sprint, its Employee Benefits Committee, and the committee’s individual members, alleging that the JSA benefits are not actuarially equivalent to the SLA benefits, as required by Read more
Allegiant 401(k) Plan Breach of Fiduciary Duty Class Action
The Employee Retirement Income Security Act (ERISA) imposes fiduciary duties on companies and others responsible for employee retirement plans. This class action brings suit against Allegiant Travel Company, claiming it breached its fiduciary duties of loyalty and prudence to the Allegiant 401(k) Retirement Plan. Read more
General Mills 401(k) Plan Breach of Fiduciary Duty Class Action
The complaint for this class action alleges that the those responsible for the General Mills 401(k) Plan—its fiduciaries—did not fulfill the duties they owed the plan in that role. Claiming they spent too much on recordkeeping and administrative (RKA) fees and engaged in self-dealing, it brings suit against General Mills, Inc., its board of directors, Read more
Empower Managed Accounts Breach of Fiduciary Duties Class Action
Participants in retirement plans rely on plan fiduciaries to act in their interests, with loyalty and prudence. The complaint for this class action alleges Empower Retirement, LLC, Advised Assets Group, LLC (AAG), and other associated companies breach those duties to those who invest in Empower Managed Accounts, charging higher fees and concealing that the investment Read more
