Hodgson Russ LLP | USA | 31 Jan 2014
In our August issue, we reported on a stock drop case decided in June 2013 by the U.S. Court of Appeals for the Ninth Circuit (Harris v. Amgen, Inc…
Hodgson Russ LLP | USA | 31 Jul 2013
Marshall & Ilsley Corp. (M&I) sponsored a 401(k) plan. Among one of more than 20 different investment funds was the M&I stock fund (M&I Fund)…
Hodgson Russ LLP | USA | 30 Apr 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…
Hodgson Russ LLP | USA | 29 Nov 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.
Hodgson Russ LLP | USA | 29 Aug 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.
Hodgson Russ LLP | USA | 29 Aug 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.
Hodgson Russ LLP | USA | 27 Jun 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.
Hodgson Russ LLP | USA | 21 Dec 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.
Hodgson Russ LLP | USA | 8 Jul 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
Hodgson Russ LLP | USA | 30 Jul 2010
The IRS recently issued final regulations on the diversification requirements generally applicable to defined contribution plans that hold publicly traded employer securities.