Julius Baer Thins ERISA Class Action Claims

Law360, New York (July 12, 2010, 1:56 PM EDT) -- Former employees accusing Julius Baer Americas Inc. of reneging on vested retirement benefits have been barred from bringing breach of fiduciary claims against the Swiss wealth management firm, but they are pressing ahead with Employee Retirement Income Security Act contract claims.

Throwing a hitch in the putative class action, Judge P. Kevin Castel of the U.S. District Court for the Southern District of New York found that the plaintiffs’ breach of fiduciary claims are time-barred but refused to dismiss allegations that plan administrators violated ERISA when...
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