A federal judge has dismissed a multi-billion plan fiduciaries motion to dismiss an excessive fee/fiduciary breach suit.   The defendants in this case—filed in the U.S. District Court for the Eastern District of Michigan in early 2021—are the fiduciaries of the Magna Group of Companies Retirement... READ MORE

Back in the middle of the pandemic, my then 91-year-old mother was presented with two options—one a specialist recommended, the other favored by her trusted general practice physician. And of course, it was to be…her decision. This kind of thing happens all the time in the medical field where such... READ MORE

A participant lawsuit claims that American Airlines has put retirement savings at risk by investing with managers and funds that “pursue leftist political agendas through environmental, social and governance ('ESG') strategies, proxy voting, and shareholder activism.” Participant-plaintiff (and... READ MORE

A suit that claimed a $7.3 billion plan “stocked the Plan’s investment menu with their own proprietary index funds”—while “participants got the short end of the stick” is now seeking class action status. The plaintiffs in this case (Kohari et al. v. MetLife Group Inc. et al., case number 1:21-cv-... READ MORE

A 401(k) excessive fee suit has been given a green light to proceed to trial—relying almost exclusively on the assertions of those bringing suit to establish a “plausible” case for doing so. This suit was brought last October against plan fiduciaries on behalf of the $432 million (14,400... READ MORE

The parties in a two-year old 403(b) excessive fee suit against a $2.3 billion plan have come to terms.  The suit (Garnick v. Wake Forest Univ. Baptist Med. Ctr., M.D.N.C., No. 1:21-cv-00454, complaint 6/4/21) was filed in June 2021 in the U.S. District Court for the Middle District of North... READ MORE

A federal judge has approved the recommendation to certify a class in a proprietary fund suit—determining that even a “well-educated, well-informed, and careful investor”—might lack actual knowledge of fiduciary breaches. The Suit The participant-plaintiff in question here is one Brian Waldner,... READ MORE

Well, here we are again at the end of yet another workweek—and yet, just look at what happened to these guys and gals… First, some odds and ends… In Columbus, Ohio, Harry Blackledge, 53, was recently inducted into the hall of fame. No, not THAT hall of fame. This one.   On Treasure Island,... READ MORE

This is the time of year when the nation’s graduates line up for accolades (and their diplomas). It is, for them, a beginning—a commencement of a new phase in their life.  But ahead of that, most are given the “opportunity” to hear some words of wisdom and inspiration from an individual that they... READ MORE