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Category Archives: ERISA

August 02

Class Action, ERISA

Court Certifies 9,000-Member Class in ERISA Lawsuit Against IQVIA

On May 12, 2022, a District Judge in the United States District Court for the Middle District of North Carolina certified a class of over 9,000 members in a lawsuit against IQVIA Inc., the Board of Directors of IQVIA Holdings, Inc., and the Benefits Investment Committee (collectively, “IQVIA,” the “Company,” or “Defendants”). The Court defined the Class as all participants and beneficiaries in the IQVIA, Inc. 401(k) Plan (the “Plan”)…

July 12

ERISA, Class Action

Court Grants Class Certification in Eversource ERISA Lawsuit

On May 25, 2022, a District Judge for the District of Connecticut certified a class of over 11,000 current and former participants of the Eversource 401(k) Plan (“Plan”) in an ERISA lawsuit against Eversource Energy Services Company (“Eversource”), the Board of Directors of Eversource Energy Service Company, the Eversource Plan Administration Committee, and the Eversource Investment Management Committee (collectively, “Defendants”), alleging mismanagement of the Plan. Eversource is the plan sponsor…

June 27

ERISA, Class Action

Sixth Circuit Affirms Denial of Defendants’ Motion to Compel Arbitration

On April 27, 2022, the United States Court of Appeals for the Sixth Circuit affirmed the United States District Court for the Southern District of Ohio’s denial of a motion to compel arbitration, holding that the Cintas Partners’ Plan (the “Plan”) had not consented to arbitration, and, therefore, there was no basis for the Plaintiffs’ claims to be arbitrated. Plaintiffs Raymond Hawkins and Robin Lung originally filed the action in…

June 23

ERISA

Fidelity to Allow Bitcoin Allocation in 401(k) Accounts

On April 26, 2022, Fidelity Investments, Inc. (“Fidelity”) announced that it will offer Bitcoin for employers to include as an investment option in their 401(k) plans. Fidelity will be the first major retirement plan service provider to offer crypto currency. This move comes after the Employee Benefits Security Administration (“EBSA”), an agency within the Department of Labor (“DOL”), published Compliance Assistance Release No. 2022-01 (“Release”) on March 10, 2022. In…

June 13

ERISA, Class Action

Universal ERISA: Miller Shah LLP Secures Victory at Third Circuit for 401(k) Participants

On June 1, 2022, the United States Court of Appeals for the Third Circuit upheld the United States District Court for the Eastern District of Pennsylvania’s decision to certify a class of more than 60,000 participants in a lawsuit against Universal Health Services Inc. ("UHS”) and the UHS Retirement Plan Investment Committee (together, “Universal” or “Defendants”) regarding the alleged mismanagement of the UHS Retirement Savings Plan (the “Plan”). Universal, like…

May 20

ERISA, Class Action

Employees Sue Fluor Corporation Over Excessive 401(k) Fees

On April 5, 2022, Deborah Locascio and David Summers (“Plaintiffs”) filed an amended complaint against their former employer, Fluor Corporation (“Fluor”), and Mercer Investments (“Mercer”) in the United States District Court for the Northern District of Texas. Fluor is the plan sponsor for the Fluor Corporation Employees’ Savings Investment Plan (the “Plan”). As of December 31, 2020, the Plan had more than 15,000 participants with account balances and assets totaling…

May 09

ERISA, Class Action

Judge Denies Motion to Dismiss – PNC ERISA Class Action

On March 31, 2022, the Honorable Christy Wiegand, a Judge for the United States District Court in the Western District of Pennsylvania, granted in part and denied in part Defendants’ motion to dismiss a class action claiming PNC Financial Services Group Inc. (“PNC” or the “Company”) mismanaged its 401(k) retirement plan. The PNC Financial Services Group Inc. Incentive Saving Plan (the “Plan”) serves as a vehicle for PNC employees to…

April 14

Class Action, ERISA

Miller Shah Secures Preliminary Approval of $3.5 Million Settlement in Coca-Cola Bottling ERISA Class Action

On March 8, 2022, United States District Judge Frank D. Whitney of the Western District of North Carolina approved a $3.5 million settlement of class action claims alleging the Coca-Cola Bottling Company (“Coca-Cola Bottling” or the “Company”) mismanaged its defined contribution retirement plan (the “Plan”). Represented by Miller Shah, two former Coca-Cola Bottling employees (“Plaintiffs”) specifically alleged that the Company mismanaged the Plan by incorporating excessive fees and risky investment…

February 07

Class Action, ERISA

Supreme Court Greenlights Excessive Investment Fees Lawsuit, Sides with 401(k) Participants

On January 24, 2022, the Supreme Court of the United States unanimously ruled that Plaintiffs, 401(k) plan participants of Northwestern University (“Northwestern” or the “University”), could proceed with their lawsuit against Northwestern and the administrators of the University’s 401(k) retirement plan (the “Plan”) for alleged mismanagement of the Plan. Northwestern, like many corporations and non-profit organizations, offers a defined contribution retirement plan, whereby eligible employees set aside a certain percentage…

September 22

Class Action, ERISA

ERISA: Court Denies Motion to Dismiss in IQVIA Lawsuit

On September 21, 2021, a District Judge in the United States District Court for the Middle District of North Carolina ruled that an ERISA class action lawsuit against IQVIA, Inc., the Board of Directors of IQVIA Holdings, Inc., and its Investment Benefits Committee (collectively, “IQVIA” or “Defendants”), was fit to proceed, denying IQVIA’s effort to dismiss the suit. IQVIA is the plan sponsor for the IQVIA 401(k) Plan (the “Plan”).…

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