5 results found
McDermott Will & Emery | USA | 14 Apr 2011
Seventh Circuit reverses summary judgment in kraft ERISA "excessive fees" case
On April 11, 2011, a divided Seventh Circuit panel reversed summary judgment in favor of Kraft Foods Global, Inc. in a class action ERISA breach of fiduciary duty case involving “excessive fees” claims in connection with Kraft’s 401(k) plan.
Dorsey & Whitney LLP | USA | 30 Nov 2009
Eighth Circuit decision in Braden v Walmart lowers bar for 401k fee litigation
Last Wednesday, the Eighth Circuit Court of Appeals issued a decision (Braden v. Wal-Mart) that lowers the bar for class action attorneys to bring claims alleging that 401(k) plans charge and improperly disclose excessive fees.
Baker Donelson Bearman Caldwell & Berkowitz PC | USA | 28 Jul 2008
LaRue Part II: Fourth Circuit rules that former employees can sue you for retirement plan investments
The Supreme Court's February ruling in LaRue v. DeWolff, Boberg & Associates, Inc., et al. allows former employees who participated in 401(k) and other defined contribution plans to sue plan fiduciaries for breach of duty claims, if the result of the breach is a reduced account balance which is then used to cash those employees out of the plan.
Norton Rose Fulbright | USA | 22 Jan 2008
Pension schemes and US class actions
Warnings have appeared in the legal press that pension schemes may be losing out on damages awarded by US courts in relation to successful class actions unless they have a framework in place to recover any such proceeds awarded.
Wiley Rein LLP | USA | 15 May 2007
Bankruptcy trustees not entitled to injunctive relief that would give them priority to D&O policy proceeds
The United States Bankruptcy Court for the District of Massachusetts has denied injunctive relief requested by two bankruptcy trustees seeking to stay the prosecution and settlement of shareholder actions proceeding against various former officers and directors of a bankrupt corporation.