Clearing The Way For ERISA Trust Suits In 3rd Circuit

Law360, New York (May 8, 2012, 1:26 PM EDT) -- On April 16, 2012, the U.S. Court of Appeals for the Third Circuit allowed three participants to pursue their excessive 401(k) fees lawsuit directly against John Hancock Life Insurance Co. and its affiliates (collectively, John Hancock).

The Third Circuit panel vacated the district court’s dismissal of the lawsuit based on the participants’ failure to make a pre-suit demand on the plan trustees and join the trustees as parties. In vacating the district court’s decision, the Third Circuit held that neither pre-suit demand nor joinder of the...
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