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Second Circuit revisits application of Moench presumption

Hodgson Russ LLP
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USA
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April 30 2013

"What does the plan document say?," is a popular refrain heard from ERISA attorneys. That, it turns out, is the same question the Second Circuit

Stock drop case updates

Hodgson Russ LLP
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USA
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November 29 2012

Recent litigation involving claims for breach of fiduciary duties in connection with the offer of employer stock as a retirement plan investment option produced mixed results and reflects a developing split in the federal circuit courts

No fiduciary breach where ESOP trustee was not acting in his fiduciary capacity

Hodgson Russ LLP
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USA
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August 29 2012

Pursuing a claim for breach of fiduciary duty against an individual necessarily involves the claimant establishing that the individual’s breach was committed while acting in his or her fiduciary capacity

IRS clarifies treatment of dividends and dividend equivalents paid on restricted stock and restricted stock units under section 162(m)

Hodgson Russ LLP
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USA
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August 29 2012

Internal Revenue Code (IRC) 162(m) generally prohibits a publicly traded corporation from deducting compensation paid to “covered employees” in excess of $1 million per year

Presumption of prudence defeats stock drop case

Hodgson Russ LLP
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USA
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June 27 2012

Litigation continues to proceed in so-called “stock drop” cases, which are typically class action lawsuits brought by plan participants when plan assets that are invested in employer stock have declined significantly in value

Stock drop case update: Second Circuit adopts Moench presumption

Hodgson Russ LLP
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USA
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December 21 2011

Stock drop cases continue to be a hot area of litigation involving 401(k) plans, ESOPs, and other forms of individual account retirement plans

401(k) plan fiduciaries possibly liable for stock fund mismanagement and excessive recordkeeping fees

Hodgson Russ LLP
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USA
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July 8 2011

In March 2010, we reported on a federal district court case in which the court ruled in favor of plan fiduciaries and the plan recordkeeper following the commencement of a lawsuit claiming mismanagement of unitized company stock funds and payment of excessive fees to the plan recordkeeper and the plan trustee

Final rules on diversification requirements issued

Hodgson Russ LLP
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USA
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July 30 2010

The IRS recently issued final regulations on the diversification requirements generally applicable to defined contribution plans that hold publicly traded employer securities

A steady diet of stock drop cases

Hodgson Russ LLP
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USA
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June 29 2010

Federal courts continue to process a steady diet of so-called "stock-drop" cases generally involving plaintiff claims of fiduciary breaches related to a significant drop in the share value of employer stock held as an investment in a retirement plan such as a 401(k) plan