December 02, 2020
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
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
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
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
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
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
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.