A review of the litigation environment and ongoing class action lawsuit and settlement news occurring in the retirement plan industry.
Delta Air Lines Stock Drop Claim
The Eleventh Circuit court affirmed its original dismissal of a participant’s fiduciary claims against Delta Air Lines and other alleged plan fiduciaries concerning Delta Air Lines stock offered within the Delta Family-Care Savings Plan. The plaintiff’s account value decreased when the price of Delta stock dropped between 2000 and 2004. The participant filed suit in […]Read More
Intel Lawsuit Regarding Hedge Fund and Private Equity Allocations
A participant in the Intel Retirement Plans, on behalf of two proposed classes of participants in the Intel 401(k) Savings Plan and Intel Retirement Contribution Plan, has filed a lawsuit alleging that the Plans’ custom investments are imprudently invested in risky and high cost hedge funds and private equity investments causing participants to suffer large […]Read More
Tibble vs. Edison Update
The Supreme Court has unanimously ruled in favor of the plaintiffs in this case, who claimed that Edison International 401(k) Plan fiduciaries violated their fiduciary duty under ERISA to monitor three retail class mutual funds offered within the Plan, overturning the ruling of the 9th Circuit Court of Appeals, which upheld a previous ruling of […]Read More