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Category Archives: ERISA

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Miller Shah LLP Finalized $124.6 Million Settlement with DST Systems

On October 25, 2023, U.S. District Judge Andrew L. Carter, Jr. granted final approval of a $124.6 million settlement reached in a class action lawsuit against Ruane, Cunniff & Goldfarb Inc., DST Systems, Inc., the Advisory Committee of the DST Systems, Inc. 401(k) Profit Sharing Plan, the Compensation Committee of the Board of Directors of DST Systems, Inc., and Robert D. Goldfarb (collectively, “DST Systems”). The settlement resolves allegations that…

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Miller Shah LLP Finalizes $13 Million Settlement with Eversource

On September 27, 2023, U.S. District Judge Janet C. Hall granted final approval of a $15 million settlement reached in a class action lawsuit against Eversource Energy Services Company, the Board of Directors of Eversource Energy Services Company (“Board”), the Eversource Plan Administrative Committee (“Administrative Committee), and the Eversource Investment Management Committee (“Investment Committee”) (collectively, “Eversource”). The settlement resolves allegations that Eversource mismanaged the Eversource 401(k) Plan (“Plan”), to the…

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Verizon Agrees to $30 Million Settlement in ERISA Class Action

On July 7, 2023, Plaintiff Melina Jacobs (“Plaintiff”) filed an unopposed motion for preliminary approval of class settlement to resolve claims she brought on behalf of herself, the Verizon Savings Plan for Management Employees (the “Plan”), and other participants of the Plan against Verizon Communication, Inc., (“Verizon”), Verizon Investment Management Corp, the Verizon Employee Benefits Committee, and Marc C. Reed, Matha Delehanty, Andrew H. Nebens, Connia Nelson, Shane Sanders, Robert…

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Yale Agrees to Class Certification in ERISA Class Action Lawsuit

On June 29, 2023, Yale New Haven Hospital (“Yale”) agreed to certify a class of over 26,000 current and former participants of the Yale-New Haven Hospital and Tax Exempt Affiliates Tax Sheltered Annuity Plan (the “Plan”) in a lawsuit against Yale-New Haven Hospital, Inc., the Board Of Trustees of Yale-New Haven Hospital, Inc., the System Investment Committee of Yale New Haven Health Service Corp. and System Affiliates, and the Retirement…

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Miller Shah LLP Secures Preliminary Approval of $2.45 Million Settlement in Omnicom ERISA Class Action

On July 5, 2023, the honorable Colleen McMahon of the United States District Court for the Southern District of New York approved a $2.45 million settlement of class action claims alleging that Omnicom Group, Inc. (“Omnicom” or the “Company”) mismanaged its defined contribution retirement plan (the “Plan”) by subjecting Plan participants to excessive fees and risky, high-cost investment options. The class action began in 2020, when former Omnicom employees Carol…

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Seventh Circuit Ruling Against Northwestern University Clarifies Pleading Standard for ERISA Fiduciary Duty Claims

On March 23, 2023, the U.S. Court of Appeals for the Seventh Circuit, on remand from the Supreme Court, explained how the “plausibility” pleading standard of Bell Atlantic Corp. v. Twombly, 550 U.S. 544 (2007), and Ashcroft v. Iqbal, 556 U.S. 662 (2009), should be applied to breach of fiduciary duty claims under the Employee Retirement Income Security Act (“ERISA”). The Court’s ruling reversed and remanded claims the district court…

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Miller Shah LLP Finalizes $12.5 Million Settlement with Universal Health Services

On March 30, 2023, U.S. District Judge Mark Kearney granted final approval of a $12.5 million settlement (“Settlement”) reached in a class action lawsuit against Universal Health Services, Inc., the Universal Health Services Retirement Plans Investment Committee (“Investment Committee”), and Does No. 1-10, who are members of the Investment Committee or other fiduciaries of the Universal Health Services, Inc. Retirement Savings Plan (“Plan”) (collectively, “Defendants” or “Universal”). The Settlement resolves…

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Parties Seek Preliminary Approval of $6.75 Million Settlement in LinkedIn 401(k) Suit

On March 3, 2023, Plaintiffs, Douglas G. Bailey, Jason J. Hayes, and Marianne Robinson (collectively, “Plaintiffs”), filed an unopposed motion for preliminary approval of a $6.75 million settlement (“Settlement”) of their class action litigation against LinkedIn Corporation, the Board of Directors of LinkedIn Corporation, and the LinkedIn Corporation 401(k) Committee (collectively, “LinkedIn” or “Defendants”). The Settlement resolves allegations that LinkedIn mismanaged the LinkedIn Corporation 401(k) Profit Sharing Plan and Trust…

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Sutter Health ERISA Plaintiffs Overcome Motion to Dismiss

On February 9, 2023, the Honorable Jennifer L. Thurston of the United States District Court for the Eastern District of California determined that class action claims alleging breaches of fiduciary duties under the Employee Retirement Income Security Act (“ERISA”) survived the motion to dismiss filed by Sutter Health and the Retirement Benefits Investment Committee of Sutter Health (together, “Defendants”).  ERISA is a federal statute that protects workers by establishing standards,…

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Miller Shah LLP Secures $2.75 Million Settlement in L Brands ERISA Suit

On January 31, 2023, the Honorable Edmund A. Sargus, Jr. of the United States District Court for the Southern District of Ohio granted final approval of a $2.75 million settlement (“Settlement”) in a class action lawsuit against L Brands, Inc. (“L Brands”), the former parent company of Victoria’s Secret, as well as L Brand Service Company LLC and the Retirement Plan Committee of the L Brands, Inc. 401(k) Savings and…

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