John Hancock Ducks ERISA Suit Alleging Excessive Plan Fees

Law360, New York (July 25, 2013, 5:11 PM EDT) -- A New Jersey federal judge on Wednesday tossed a putative class action alleging John Hancock Life Insurance Co. and its affiliates charged excessive service provider fees on 401(k) retirement plans, saying John Hancock was not acting as a fiduciary under the Employment Retirement Income Security Act.

U.S. District Judge William J. Martini granted John Hancock’s motion to dismiss the seven ERISA claims in the suit launched by plan participants alleging John Hancock charged excessive fees, improperly received revenue sharing payments and improperly selected the JHT-Money Market...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

SANTOMENNO v. JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.)


Case Number

2:10-cv-01655

Court

New Jersey

Nature of Suit

Labor: E.R.I.S.A.

Judge

William J. Martini

Date Filed

March 31, 2010

Law Firms

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.