Skip to content Skip to navigation

Breach of Fiduciary Duty

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.

What would you think of a pharmacy that suggested your doctor to prescribe a medication for you—without even speaking to you about it first? That’s what this complaint claims CVS Pharmacy, Inc. and two associated companies have done in order to increase their sales.

Clock, Pile of Coins, and Hand Putting Coins in Jar

Entities that handle retirement plans have a fiduciary duty to the plan and its participants. However, the complaint for this class action alleges that West Corporation and the Retirement Committee of the West Corporation Employee 401(k) Retirement plan did not fulfill the duties of a fiduciary because they permitted fees for the plan to be too high. 

GE Logo

The complaint for this class action alleges that General Electric put too little aside in reserves for its insurance companies and thereby falsely inflated its earnings and stock price. But this is not a brought by stockholders as a securities case; it’s brought by participants in the GE Retirement Savings Plan under the Employee Retirement Income Security Act (ERISA).

Minnesota Life Insurance Logo

This class action is a complicated one, involving income streams arranged for consumers by an insurance company and used to fund life insurance policies. Minnesota Life Insurance Company should have known that the plan was flawed from the beginning, the complaint claims, and should never have recommended it to their customers.

McBride & Sons Sign on Building

Why would a company retirement plan sell securities at below fair market value? The complaint for this class action alleges that company insiders, some of whom had fiduciary duties to the plan, stood to benefit from the sales—unlike the participants in the plan, who suffered damages. The complaint brings claims under the Employee Retirement Income Security Act of 1974 (ERISA). 

Verizon Logo

Verizon Communications, Inc. maintains four participant-directed, defined-contribution 401(k) retirement plans for its employees, with more than $30 billion in assets. The complaint for this class action alleges that Verizon and the other defendants in this case breached their fiduciary duties in their handling of the investments in the plans, with overly-complex, risky, and inappropriate investment options. 

Frontier Communications Van

This class action concerns the investments in the Frontier Communications 401(k) Savings Plan. The complaint alleges that Frontier Communications Corporation  and its Retirement Investment & Administration Committee did not fulfill their fiduciary duties to the plan, including maintaining adequate diversification, thus violating the Employee Retirement Income Security Act (ERISA).

Pages