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 survived the motion to dismiss filed by Sutter Health and the Retirement Benefits Investment Committee of Sutter Health.
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 in a class action lawsuit against L Brands, Inc. alleging mismanagement of the L Brands, Inc. 401(k) Savings and Retirement Plan.
On December 7, 2022, United States District Judge Janet C. Hall of the District of Connecticut partially denied the Motion to Strike Plaintiffs’ Jury Demand filed by New England energy provider Eversource Energy Company, finding that Defendants cannot preclude a jury trial against 11,000 former and current participants in the Eversource 401(k) Plan.
Plaintiffs, represented by Miller Shah LLP, alleged that Defendants breached their fiduciary duties under the Employee Retirement Income Security Act of 1974 (“ERISA”) by (1) selecting and retaining the risky Fidelity Freedom Funds Active Suite, instead of retaining a more prudent alternative, and (2) allowing participants to be charged excessive recordkeeping and administrative fees.
On October 31, 2022, United States District Judge Mark Kearney of the Eastern District of Pennsylvania approved a $12.5 million settlement of class action claims alleging that Universal Health Services, Inc. mismanaged its defined contribution retirement plan.
Plaintiffs alleged Defendants breached their fiduciary duties pursuant to the Employee Retirement Income Security Act of 1974 by selecting and retaining risky and underperforming investment options in the Plan and allowing Plan participants to be charged unreasonably expensive investment management fees, resulting in significant losses.
On September 22, 2022, a District Judge in the United States District Court for the Northern District of California certified a class of over 30,000 people in a lawsuit against Genentech, Inc., and the U.S. Roche DC Fiduciary Committee.
On September 16, 2022, the Honorable Christy Criswell Wiegand of the Western District of Pennsylvania certified a class of over 65,000 current and former participants of the PNC Financial Services Group, Inc. Incentive Savings Plan in an ERISA lawsuit against PNC Financial Services Group, Inc. and the PNC Financial Services Group, Inc. Incentive Savings Plan Administrative Committee.
On August 1, 2022, Michael Tullgren filed a complaint on behalf of himself and similarly situated class members against Booz Allen Hamilton Inc. in the United States District Court for the Eastern District of Virginia.
On August 1, 2022, Andre Hall and Jermaine Minitee (collectively, “Plaintiffs”) filed a complaint on behalf of themselves and similarly situated class members against Capital One Financial Corporation in the United States District Court for the Eastern District of Virginia.
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