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Category: Defined Contribution Plans

Your ERISA Watch – Fourth Circuit Holds Plan Fiduciary May Violate ERISA by Failing to Divest Allegedly Imprudent Frozen Single-Stock Fund

This week’s notable decision, Stegemann v. Gannett Co., Inc., No. 19-1212, __F.3d__, 2020 WL 4664798 (4th Cir. Aug. 11, 2020), results from the Fourth Circuit’s consideration of “whether and how a participant in a defined contribution plan can allege a…

Your ERISA Watch – The Difficult Dudenhoeffer Standard Saves Wells Fargo from Answering an ERISA Class Action Lawsuit

This week’s notable decision is Allen v. Wells Fargo & Co., No. 18-2781, __ F.3d __, 2020 WL 4279751 (8th Cir. July 27, 2020). The three plaintiffs, employees of Wells Fargo, brought a class action lawsuit against the bank under…

Your ERISA Watch – Eighth Circuit Revives Excessive Fee Litigation against Washington University

Retirement plan participants received a partial victory from the Eighth Circuit Court of Appeals in one of several actions brought against large universities for the alleged mismanagement of their section 403(b) retirement-savings plans. In Davis v. Washington Univ. in St.…

Your ERISA Watch – Johnson & Johnson Escapes Breach of Fiduciary Duty Lawsuit Due to Dudenhoeffer’s Difficult Pleading Standard

This week’s notable decision, Perrone v. Johnson & Johnson, et al., No. CV 19-00923 (FLW), 2020 WL 2060324 (D.N.J. Apr. 29, 2020), is a case involving allegations of investing in company stock when corporate insiders knew, and actively concealed, its…

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