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Bekker v. Neuberger Berman Group LLC

Track this case

Case Number:

1:16-cv-06123

See also:

7:16-cv-06123

Court:

New York Southern

Nature of Suit:

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

Multi Party Litigation:

Class Action

Judge:

Laura Taylor Swain

Firms

Sectors & Industries:

Financial
- Asset Management

December 02, 2020
Neuberger Workers' Attys Get $4.8M In Fees In ERISA Deal

Attorneys for a class of Neuberger Berman employees got the green light from a New York federal judge Tuesday to collect $4.76 million in attorney fees for their work securing a $17 million settlement resolving claims that the investment giant put workers' retirement money into an underperforming fund.
October 21, 2020
Neuberger Workers' Attys Seek $4.8M Cut Of $17M ERISA Deal

Attorneys who worked out a $17 million settlement for Neuberger Berman employees in a suit claiming the company allowed them to sink their retirement savings into a shoddy investment option asked a New York federal court for $4.76 million in fees, taking a $1 million haircut off their original request.
June 11, 2020
$17M Deal Struck To End Neuberger Berman 401(k) Plan Fight

The managers of investment firm Neuberger Berman Group LLC's 401(k) plan have agreed to pay $17 million to resolve a suit accusing them of violating ERISA by managing the plan for the benefit of the company rather than plan participants.
March 23, 2020
Neuberger Says Justices' Intel Ruling Can't Save 401(k) Suit

The managers of investment firm Neuberger Berman Group LLC's 401(k) plan have told a New York federal judge that the U.S. Supreme Court's recent ruling keeping an ERISA case against Intel alive didn't undermine their argument that a proposed class action over their handling of workers' retirement savings was untimely.
February 28, 2020
Workers, Neuberger Feud Over Justices' Ruling's Place In Suit

Plan managers and a proposed class of participants in investment firm Neuberger Berman Group LLC's 401(k) plan fought Friday over whether the U.S. Supreme Court's recent decision in Intel Corp. v. Sulyma compels a New York federal judge to reject Neuberger's bid to toss the participants' ERISA case.
September 16, 2019
Neuberger ERISA Case Filed Too Late, 401(k) Committee Says

The committee that manages Neuberger Berman Group LLC's 401(k) plan has told a New York federal court to toss a proposed class action accusing the investment management firm of violating federal benefits law by keeping a poorly performing, company-affiliated fund as an investment option for its retirees.
May 10, 2019
Neuberger Workers Get Fiduciary Breach Claim Revived

A New York federal judge has given participants in Neuberger Berman Group LLC's 401(k) plan another shot at accusing plan managers of breaching their fiduciary duty under the Employee Retirement Income Security Act, saying the participants adequately supported their claims that the managers made bad investment choices.