May 14, 2025
A Berkshire Hathaway-owned industrial holding company doesn't have to face a proposed class action claiming it filled its 401(k) plan with underperforming proprietary target date funds, with an Illinois federal judge faulting plan participants' efforts to compare those funds with other potential investments.
September 25, 2023
An Illinois federal judge tossed a proposed class action from former participants in a Marmon Holdings Inc. 401(k) retirement plan for employees, finding the proposed class didn't give significantly meaningful comparisons to substantiate claims of excessive record-keeping fees and poorly performing investment options.
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.
August 17, 2022
A holding company mismanaged its workers' retirement plan, losing millions of dollars and failing to use its $1.1 billion size to negotiate lower fees, according to a proposed class action filed by a group of workers in Illinois federal court.