Posts tagged “Fiduciary”

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.”

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 […]

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. […]

If At First You Don’t Succeed…
The DOL has finalized new rules defining who is an investment fiduciary under ERISA; this marks the DOL’s latest effort to replace rules issued in 1975.

DOL Tries (Again) to Redefine ERISA Investment Fiduciary
DOL takes another swing at redefining investment fiduciaries

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 […]

Supreme Court Weighs in (Marginally) in Fiduciary Litigation
Fiduciaries responsible to exercise prudence in all decisions—not just some.

Fiduciary Litigation Update
Plaintiffs’ must use truly comparable benchmarks in claiming imprudent fiduciary decisions.

Outgoing Administration Offers a Few Parting Shots
Recent guidance from the DOL illustrates the outgoing administration’s desire to leave its mark.