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Searching Content indexed under Retirement, Superannuation & Pensions by Goodwin Procter LLP ordered by Published Date Descending.
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1
DOL Provides Flexibility On Timing Of Disclosures For Participant-Directed Plans
The Department of Labor recently issued Field Assistance Bulletin 2013-02A under the Employee Retirement Income Security Act of 1974.
United States
7 Aug 2013
2
DOL Advisory Opinion Clarifies That Revenue Sharing Payments Are Not Plan Assets
The Department of Labor issued Advisory Opinion 2013-03A under the Employee Retirement Income Security Act of 1974.
United States
7 Aug 2013
3
Fourth Circuit Follows Cigna v. Amara Dictum Expanding The Scope Of Relief Under ERISAís Catch-All Provision
A year after the Supreme Court decided CIGNA Corp. v. Amara, courts continue to weigh the impact of that decision, particularly the scope of the available remedies against breaching fiduciaries under ERISAís "catch-all" provision, Section 502(a)(3), which authorizes "other appropriate equitable relief."
United States
22 Oct 2012
4
District Court Certifies Class In Excessive Fee Case Against Insurer
On September 26, 2012, Judge Hall of the U.S. District Court for the District of Connecticut certified a class in an ERISA case alleging breach of fiduciary duty and prohibited transactions against an insurance company in connection with revenue sharing practices under group annuity contracts issued to administrators of defined contribution retirement plans.
United States
22 Oct 2012
5
New Disclosure Obligations For Sponsors Of ERISA Plans And Service Providers With ERISA Clients
Significant attention continues to be focused on the compensation paid to entities that provide investment management, recordkeeping and other services to plans.
United States
9 Jul 2012
6
District Court Dismisses Claims Of Alleged Imprudence Of Securities Lending Investments
On April 20, 2012, Judge Barbara Jones of the U.S. District Court for the Southern District of New York dismissed a putative class action.
United States
8 Jul 2012
7
Eleventh Circuit Affirms Dismissal Of Stock Drop Suit
In "Lanfear v. Home Depot, Inc.", Case No. 10-13002 (11th Cir. May 8, 2012), the U.S. Court of Appeals for the Eleventh Circuit adopted the presumption of prudence.
United States
8 Jul 2012
8
Sixth Circuit Dismisses Stock Drop Claim For Failure To Allege "Actual Injury"
The U.S. Court of Appeals for the Sixth Circuit recently rejected a breach of fiduciary duty claim.
United States
8 Jul 2012
9
Sixth Circuit Holds That ERISA Preempts State Law Claims Against Nonfiduciary Plan Custodian
In "McLemore v. Regions Bank", No. 10-5480 (6th Cir. June 8, 2012), a divided panel of the U.S. Court of Appeals for the Sixth Circuit ruled that ERISA preempted state law.
United States
8 Jul 2012
10
SEC Alleges Securities Law Violations Against Private Company In Connection With Share Repurchases From Employees
On December 12, 2011 the Securities and Exchange Commission charged Stiefel Laboratories Inc. ("Stiefel Labs" or the "Company") and Stiefel Labsí former chairman and CEO, with fraud in connection with the Companyís repurchases of its stock from employees and former employees between 2006 and 2009.
United States
29 Dec 2011
11
Fourth Circuit Holds Trustees Are Liable Only If Their Fiduciary Breach Caused The Planís Loss
In Plasterersí Local Union No. 96 Pension Plan v. Pepper, No. 10-1364 (4th Cir. December 1, 2011), the Fourth Circuit affirmed the district courtís findings that trustees of a multi-employer pension plan breached ERISA fiduciary duties by not diversifying plan investments and by failing to prudently investigate investment alternatives for the plan.
United States
 
23 Dec 2011
12
Second Circuit Adopts Presumption Of Prudence For Holding Of Employer Stock; Determines Fiduciaries Have No Affirmative Duty To Disclose Adverse Information
In a much anticipated decision, the Second Circuit Court of Appeals affirmed dismissal of a stock-drop suit involving two 401(k) plans sponsored by Citigroup, Inc. ("Citigroup") entities.
United States
22 Dec 2011
13
DOL Issues Final Regulation Regarding Prohibited Transaction Exemptions For Investment Advice Arrangements
The Department of Labor issued a final regulation (the "Regulation") regarding two statutory prohibited transaction exemptions relating to the provision of investment advice to beneficiaries of IRAs and participants in 401(k) plans and other defined contribution plans that provide for participant direction of investments.
United States
11 Nov 2011
14
ERISA Litigation Update - September 2011
On August 5, the U.S. Court of Appeals for the Second Circuit affirmed the dismissal of the complaint in "Faber, et al. v. Metropolitan Life Insurance Company".
United States
6 Oct 2011
15
Seventh Circuit Requires 401(k) Plan Fiduciaries to Stand Trial Where They Did Not Seek An RFP For Plan Recordkeeping Services Every Three Years
On April 11, a divided panel of the Seventh Circuit set a so-called "excessive fee" case on track for trial, by reversing in part the district courtís decision to grant summary judgment for defendants in George v. Kraft Foods Global, Inc., No. 10-1469 (7th Cir.). On May 26, the appeals court denied the defendantsí request to revisit its decision.
United States
17 Jun 2011
16
Seventh Circuit Vacates Class Certification in Two 401(k) Excessive Fee Cases and Affirms Dismissal in a Consolidated 401(k) Stock Drop Case
On January 21, 2011, a panel of the U.S. Court of Appeals for the Seventh Circuit issued two important decisions, one in the current wave of 401(k) fee cases, and another in the long-standing genre of retirement plan stock drop cases. Each decision will likely impact future jurisprudence in these areas.
United States
4 Apr 2011
17
District Court Allows Claim Against Financial Advisor to Go to Trial
The U.S. District Court for the Eastern District of Pennsylvania allowed claims of breach of fiduciary duty to proceed to trial later this spring against a defined benefit plan trustee, the planís sponsor and the planís financial advisor.
United States
4 Apr 2011
18
Regulatory Update Ė DOL Initiatives Potentially Affecting ERISA Litigation
A number of regulatory initiatives undertaken by the Department of Labor ("DOL") which are or may go into effect later this year have potential significance for future ERISA litigation.
United States
4 Apr 2011
19
Sixth Circuit Holds That Service Providerís Business Decisions Are Not Subject to ERISA Fiduciary Duties
Recently, a divided panel of the U.S. Court of Appeals for the Sixth Circuit held that a company that provided services to an ERISA plan did not act in a fiduciary capacity when it negotiated with third parties to establish and modify services arrangements in a manner which increased benefit costs for the plan.
United States
4 Apr 2011
20
Update on Stock Drop Litigation Arising Out of Subprime Crisis
Numerous ERISA stock drop suits filed in the wake of the recent financial crisis continue to work their way through the system. To date, no case has gone to trial, but several have resulted in notable decisions at the motion to dismiss and/or summary judgment stages Ė with victories for both plaintiffs and defendants.
United States
1 Jul 2010
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