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Breach of Fiduciary Duty

Prudential Insurance Logo

Many employee retirement plans as governed by the Employee Retirement Income Savings Act of 1974 (ERISA). This class action, about the Prudential Employee Savings Plan, alleges that Prudential Insurance Company of America, the plan’s Administrative Committee, and its Investment Oversight Committee chose investment products for the plan that offered advantages to Prudential and its subsidiaries and affiliates at the expense of the participants in the plan.

Goldman Sachs Name on Walls

The Employee Retirement Income Security Act of 1974 (ERISA) governs various types of employment benefits, including retirement plans. The complaint for this class action alleges that the Goldman Sachs Group, Inc. and the Goldman Sachs 401(k) Plan Retirement Committee “have breached their fiduciary duties and engaged in unlawful self-dealing with respect to the plan…”

United Behavioral Health Logo

United Behavioral Health (UBH) “administers mental health and substance use disorder benefits for commercial welfare benefit plans,” says the complaint for this class action. But, according to the complaint, UBH’s guidelines for accepting or rejecting treatment under those plans have been flawed and were rejected in a previous class action. This class action seeks to extend the class period for those who want to make claims against UBH.

Memorial Hospital at Gulfport

Yet another data breach has occurred—yet another one involving a medical facility and medical records. This class action brings suit against Memorial Hospital at Gulfport Foundation, Inc. alleging that the hospital (MHG) failed to properly safeguard patients’ personal health information (PHI) and other personally identifiable information (PII).

Statement for 401(k) Plan

This settlement resolves a class action against ATH Holding Company, LLC, its Board of Directors, and its Pension Committee. The complaint alleged that these parties violated the Employee Retirement Income Security Act (ERISA) in their management, operation, and administration of the Anthem 401(k) Plan.

Hand Holding Slip of Paper Saying, "401K"

This class action concerns the Compass SmartInvestor 401(k) Plan. The complaint alleges that BBVA Compass Bancshares, Inc., Compass Bancshares, Inc., and BBVA USA Bancshares, Inc.—the companies with responsibility for the plan—did not do their fiduciary duty to the plan, violating the Employee Retirement Security Act (ERISA). 

“A life settlement is a transaction in which an insured person sells his or her life insurance policy to a third party,” explains the complaint for this class action. Life settlements are at issue in this case for “fraud, conspiracy, aiding and abetting, civil theft, and breach of fiduciary duty,” against defendants Conestoga Settlement Services, LLC, Conestoga International, LLC, Conestoga Trust Services, LLC, Michael McDermott, Provident Trust Group, LLC, LLC Bradford and Company, LLC, and Strategix Solutions, Ltd.

Alaska Airlines Plane, Gaining Altitude, with Mountains in the Background

Has Alaska Airlines, Inc. been deceiving passengers about purchase of travel insurance from Allianz Global Assistance (AGA) via Alaska’s website? The complaint for this class action claims that the airlines portrays itself as a passenger’s agent, when in reality, AGA pays Alaska kickbacks.

JPMorgan Chase Building

JPMorgan Chase & Co. and other JPMorgan companies are settling class actions alleging they violated provisions of the Employee Retirement Income Security Act (ERISA) and breached their fiduciary duties for the way they managed 401(k) investments in certain JPMorgan Stable Value Funds.

Providence's Office Park in Oregon

Providence Health & Services is electing to settle a class action claiming it violated its fiduciary duties with respect to tis 401(a) Service Plan, its Multiple Employer 401(k) Plan, and its 403(b) Value Plan. The complaint alleged that those in charge of the plan made imprudent selection of investment options when there were superior, less expensive options available.

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