December 03, 2024
Allowing discovery in a proposed class action over allegedly imprudent investments in Citigroup Inc.'s employee 401(k) plan may signal to fiduciaries that their decisions are subject to judicial second-guessing, a Hartford federal judge observed Tuesday amid oral argument on the company's motion to dismiss.
December 02, 2024
A proposed class of ex-workers for Citigroup Inc. urged a Connecticut federal court on Monday to reject their former employer's motion to dismiss a case alleging mismanagement of an employee 401(k) plan, arguing that two recent decisions in similar cases supported allowing the claims to proceed.
April 23, 2024
Citigroup Inc. has urged a Connecticut federal judge to permanently toss a proposed class action brought by former employees who claim the company mismanaged their 401(k) plans, arguing that decisions made in other courts dismissing similar challenges support the suit's dismissal.
March 11, 2024
The U.S. Chamber of Commerce backed Citigroup's efforts to shut down a suit in which workers claimed mismanagement of their 401(k) plan, telling a Connecticut federal court that these types of suits cherry-pick data and should not stand in court.
November 20, 2023
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.
August 26, 2022
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.