From the perspective of plan sponsors and fiduciaries, the main advantage of mandatory arbitration is that it has been perceived as a way of avoiding the potentially large recoveries available to plaintiffs in class action lawsuits. But in the Employee Retirement Income Security Act of 1974 context, accomplishing this through arbitration provisions may not be […]
Have you ever taken a minute to check on the funds offered in your employer’s 401(k) plan, or the administrative fees paid to outside vendors to manage it? If not, you should; hundreds of lawsuits have been filed against all types of companies by their employees alleging that their company’s 401(k) plan charges excessive administrative […]
The Supreme Court heard arguments yesterday, November 6, 2019, in Retirement Plans Committee of IBM v. Jander, an ERISA case challenging the prudence of fiduciary decisions with respect to an employee stock ownership plan (ESOP). The Court granted certiorari to review whether the Second Circuit correctly applied the Court’s “more harm than good” standard set […]
DowDuPont merger attempts to thwart DuPont’s promised pensions to employees that helped build the company. Kantor & Kantor lawyers are representing U.S. retirees of E. I. du Pont de Nemours and Company in a class action lawsuit after a series of corporate maneuvers taken by the company over the last four years left workers’ retirement […]
In an intensely litigated ESOP (employee stock ownership plan) case involving 14 counts of ERISA violations, on April 22, 2019, Judge Staton, District Judge, Central District of California, certified a class of ESOP participants.The certification came after the court denied the Defendants’ motions to dismiss all 14 counts. The case, as a whole, has many […]
