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Bracalente et al v. Cisco Systems, Inc. et al
Case Number:
5:22-cv-04417
Court:
Nature of Suit:
Multi Party Litigation:
Class Action
Judge:
Firms
Companies
- American Benefits Council
- American Retirement Association
- Cisco Systems Inc.
- The ERISA Industry Committee
Sectors & Industries:
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March 12, 2025
Cisco Wins Exit From Ex-Workers' BlackRock 401(k) Fund Suit
A California federal judge permanently tossed a proposed class action from ex-Cisco workers alleging their former employer mismanaged its 401(k) by keeping underperforming BlackRock target-date funds in the plan, finding their claims were still lacking despite multiple chances at amendment.
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May 21, 2024
Cisco Slips Ex-Workers' Suit Over BlackRock Funds, For Now
A California federal judge threw out a proposed class action that former workers brought accusing Cisco of breaching federal benefits law by including several BlackRock funds as options in its $16.4 billion 401(k) plan, saying the ex-employees failed to put forward meaningful comparator investments to support their claims.
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November 20, 2023
Wave Of ERISA Suits Over BlackRock Funds Hit Hurdles
A recent crop of Employee Retirement Income Security Act suits from ex-workers challenging the decision to retain certain BlackRock investment options in their 401(k)s have stumbled in federal court.
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August 14, 2023
Cisco Gets ERISA Suit Over BlackRock Funds Tossed
Cisco defeated a proposed class action claiming the company violated federal benefits law by including several BlackRock funds as options in its $16.4 billion employee 401(k) plan, with a California federal judge ruling ex-workers leading the suit can't rely solely on the funds' alleged underperformance.
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August 26, 2022
6 New ERISA Retirement Plan Suits To Watch
Proposed class actions challenging the performance of a suite of BlackRock target date funds in huge company 401(k) plans stand out from a healthy crop of Employee Retirement Income Security Act lawsuits filed this summer. Law360 reviews six new ERISA class actions.