The Department of Labor (DOL) filed its notice of appeal on Friday of a ruling that struck down its guidance pertaining to a fiduciary duty regarding rollovers.
“The notice of appeal is in line... Read More
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Litigation
BY Nevin E. Adams, JD | 4/12/2023
Another Midwestern federal court has found that the plaintiffs in a 401(k) excessive fee suit have failed to make their case.
This suit had been brought by participant-plaintiffs Ruth Williams,... Read More
BY Nevin E. Adams, JD | 4/10/2023
The plaintiffs had claimed the plan fiduciaries had “an imprudent and disloyal preference for its own proprietary funds” — but have now come to terms.
Back in September of 2022, participant-... Read More
BY Nevin E. Adams, JD | 4/10/2023
Plaintiffs in two of the recently dismissed suits involving the BlackRock LifePath target-date funds have announced their intentions to appeal those losses.
The plaintiffs here are those related... Read More
BY Nevin E. Adams, JD | 4/6/2023
An excessive fee suit with a “complicated procedural history” and one that a federal judge says “appears to be a lawsuit in search of a theory” has, once again, culminated in a win for the plan... Read More
BY Ted Godbout | 4/4/2023
While a flood of lawsuits from the plaintiff’s bar continues at an unprecedented rate, top ERISA attorneys at an April 3 workshop session at the NAPA 401(k) Summit debated whether recent successes... Read More
BY Nevin E. Adams, JD | 3/31/2023
Claiming that the suit by 25 state attorneys general “rests on a false premise,” the Labor Department is pushing back on a motion to forestall implementation of the so-called ESG regulation.
More... Read More
BY Nevin E. Adams, JD | 3/30/2023
A federal judge has denied the Labor Department’s motion to move a suit involving the so-called ESG regulation from a federal court in Texas to Washington, DC.
U.S. District Judge Matthew J.... Read More
BY Nevin E. Adams, JD | 3/29/2023
Another excessive fee suit with participant-plaintiffs represented by two active ERISA litigants — has been dismissed on a number of grounds.
The defendants in this case — DISH Network... Read More
BY Nevin E. Adams, JD | 3/27/2023
Following a United States Supreme Court directive, a federal court has reconsidered its earlier conclusions in an excessive fee case.
Now, it’s been awhile, but you may recall that the case[i] (... Read More
BY Nevin E. Adams, JD | 3/24/2023
Commenting that “the Florida court’s analysis is rooted in a fundamental legal error,” the Department of Labor says it may appeal a ruling that upended its guidance pertaining to fiduciary duty... Read More
BY Nevin E. Adams, JD | 3/22/2023
Eli Lilly has withdrawn its motion for attorney fees and costs—a move that says a lot about the cost of litigation in both time and money.
You may recall that the defendants in this case are the... Read More
BY Nevin E. Adams, JD | 3/20/2023
Live Nation finds itself in the crosshairs of litigation — and it has nothing to do with Taylor Swift tickets.
As it turns out, Live Nation Entertainment Inc. (which merged with TicketMaster in... Read More
BY Nevin E. Adams, JD | 3/16/2023
Another excessive fee suit involving proprietary funds has settled a little more than a year after the suit was filed.
In this one plaintiffs Jubril Pecou and Ashley Schiefer (who joined the suit... Read More
BY Nevin E. Adams, JD | 3/16/2023
A $1.6 billion 403(b) plan has settled an excessive fee suit for $6 million.
The suit — brought by participants Susan McNeilly and Carla Martz of the Spectrum Health System 403(b) plan and... Read More
BY Nevin E. Adams, JD | 3/14/2023
An excessive fee suit targeting a $5.9 billion 401(k) plan has been dismissed — with prejudice.
Fending off this particular lawsuit was Kroger and the fiduciaries of the Kroger 401(k) Retirement... Read More
BY Nevin E. Adams, JD | 3/13/2023
The terms in an excessive fee suit settlement announced last fall have finally been revealed.
The plaintiffs here — Douglas G. Bailey, Jason J. Hayes and Marianne Robinson — who are two former and... Read More
BY NAPA Net Staff | 3/9/2023
In this podcast episode Nevin (Adams) & Fred (Reish) take a look at the new litigation landscape for ERISA plans, including an update on suits involving the BlackRock LifePath target-date funds,... Read More
BY Nevin E. Adams, JD | 3/9/2023
A number of recent excessive fee suits have failed to state a “plausible” claim to move past a motion to dismiss — but a federal judge in Massachusetts embraced what seems to be a lower threshold and... Read More
BY Nevin E. Adams, JD | 3/7/2023
So, if you had a court hearing with the same judge on the same day, ruling on suits involving identical allegations — what result would you expect?
Well, if you said the same result — you’d be... Read More
BY Nevin E. Adams, JD | 3/6/2023
The plaintiffs in one of a dozen suits challenging the use of BlackRock Lifepath target-date funds has once again gone down in flames.
Last December U.S. District Judge Michael S. Nachmanoff had... Read More
BY Nevin E. Adams, JD | 3/3/2023
Plan fiduciaries that had come close to settling a suit that accused them of mismanaging plan assets—twice—have managed to prevail because the plaintiffs waited too long to sue.
In this case,... Read More
BY Nevin E. Adams, JD | 2/28/2023
The parties in one of the first university 403(b) excessive fee suits—by participant-plaintiffs represented by the Schlichter law firm—have unveiled the terms of a big settlement.
The suit, filed... Read More
BY Nevin E. Adams, JD | 2/27/2023
Amidst a number of excessive fee suit settlements, and decisions, a plan fiduciary who won their case in court has now filed to recover their costs of defending against the suit.
The defendants in... Read More
BY Nevin E. Adams, JD | 2/23/2023
“For Americans of all races, creeds, and political stripes, the American dream includes the prospect of a comfortable retirement.” So begins a second lawsuit challenging the Labor Department’s so-... Read More
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