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Robert Lauderdale et al v. NFP Retirement, Inc. et al
Case Number:
8:21-cv-00301
Court:
Nature of Suit:
Multi Party Litigation:
Class Action
Judge:
Firms
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February 26, 2024
Wood Group Prevails In ERISA Fight Over Target-Date Funds
A California federal judge ruled in favor of an engineering firm and its retirement plan investment manager in a class action from employee 401(k) participants alleging mismanagement, concluding after a nine-day bench trial that a suite of in-house target-date funds offered to retirees were properly selected and monitored.
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March 21, 2023
John Wood Unit, FlexPATH Face $38M Bench Trial Over 401(k)
Attorneys for a certified class of thousands of current and workers for a John Wood Group unit told a California federal judge during opening statements in a bench trial Tuesday that it failed to properly monitor their 401(k) plan, and investment manager flexPATH Strategies made imprudent investments that caused $38.1 million in damages.
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October 04, 2022
5 October Court Hearings Benefits Attys Should Watch
In October, the Ninth Circuit will consider whether to revive a sweeping 401(k) mismanagement class action against AT&T, the Tenth Circuit will weigh an insurance claim for residential mental health treatment and chipmaker Nvidia will try to escape a 401(k) suit in California district court. Here's a look at those cases and other upcoming hearings benefits lawyers should keep an eye on.
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February 17, 2022
Engineering Firm Employees Nab Class Cert. In ERISA Suit
A California federal judge granted class certification to a group of employees at an engineering firm who say the company failed to properly manage its 401(k) plan, leading to higher expenses and imprudent investments.
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February 10, 2022
Court Trims 401(k) Management Suit Against Engineering Firm
A California federal judge has pared down a proposed class action challenging the oversight of an engineering firm's 401(k) plan, tossing claims that the plan caretakers are directly liable for an investment manager's decisions but preserving allegations that they failed to properly supervise that manager.