5th Circ. Axes ERISA Class Due To Judge's 'Breezy' Analysis

Law360 (April 29, 2020, 4:19 PM EDT) -- The Fifth Circuit scrapped a 90,000-member class Wednesday in an ERISA suit accusing plan administrator the Fringe Benefit Group of profiting at the expense of 401(k) investors, faulting the lower court's "breezy" and "fleeting" analysis.

In its opinion, a three judge-panel said U.S. District Judge Sam Sparks didn't perform the "rigorous analysis" required when he certified the class in the Employee Retirement Income Security Act suit against the Fringe Benefit Group and Fringe Insurance Benefits Inc.

"This 'rigorous analysis' mandate is not some pointless exercise that we foist on this circuit's hardworking and conscientious district judges, such as the judge in...

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