February 26, 2024
A California federal judge ruled in favor of an engineering firm and its retirement plan investment manager in a class action from employee 401(k) participants alleging mismanagement, concluding after a nine-day bench trial that a suite of in-house target-date funds offered to retirees were properly selected and monitored.
March 21, 2023
Attorneys for a certified class of thousands of current and workers for a John Wood Group unit told a California federal judge during opening statements in a bench trial Tuesday that it failed to properly monitor their 401(k) plan, and investment manager flexPATH Strategies made imprudent investments that caused $38.1 million in damages.
October 04, 2022
In October, the Ninth Circuit will consider whether to revive a sweeping 401(k) mismanagement class action against AT&T, the Tenth Circuit will weigh an insurance claim for residential mental health treatment and chipmaker Nvidia will try to escape a 401(k) suit in California district court. Here's a look at those cases and other upcoming hearings benefits lawyers should keep an eye on.
February 17, 2022
A California federal judge granted class certification to a group of employees at an engineering firm who say the company failed to properly manage its 401(k) plan, leading to higher expenses and imprudent investments.
February 10, 2022
A California federal judge has pared down a proposed class action challenging the oversight of an engineering firm's 401(k) plan, tossing claims that the plan caretakers are directly liable for an investment manager's decisions but preserving allegations that they failed to properly supervise that manager.