Posts in “Fiduciary Litigation”

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Spence v. American Airlines: Expanding the Playing Field for Fiduciary Liability?

A federal court in Texas has ruled that American Airlines breached its duty of loyalty under ERISA by failing to respond to activities undertaken by a plan investment manager (BlackRock) supporting ESG initiatives. The court was unable to find a breach of prudence—rather it relied solely on the obligation of “loyalty.”

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New Front on Fiduciary Litigation?

New Front on Fiduciary Litigation?

As employers have become more attuned to their fiduciary responsibilities, plaintiffs’ attorneys have had to dig deeper to find a basis for suing plan sponsors. Two recent court decisions (Hutchins v. HP Inc and Perez-Cruet v. Qualcomm Inc) reflect diametrically opposing judicial responses to the same new litigation strategy, The Claims Both Hutchins and Perez-Cruet […]

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New lawsuit makes serious allegations that TIAA stacked the deck to enhance profitability

New Lawsuit Targets TIAA and Morningstar

A new fiduciary case, Kelley v. TIAA,  has been filed against TIAA and Morningstar. This case is different than the typical “fees are too high and returns are too low” type of case –it contains some significant new accusations against TIAA and raises new issues. If this case succeeds, it could have some far-reaching implications. […]

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Courts of Appeals Reject Generalized Allegations

The ERISA world focused much energy and attention on the U.S. Supreme Court’s decision in Hughes v. Northwestern University, in which the Court reinstated a fiduciary suit against Northwestern University. In the aftermath of the Court’s decision, many analysts concluded that the decision would make life even more difficult for plan fiduciaries seeking to fend […]

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Supreme Court Weighs in (Marginally) in Fiduciary Litigation

Fiduciaries responsible to exercise prudence in all decisions—not just some.

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