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ERISA Violations

This class action is another case where a company has classified a worker as an independent contractor rather than an employee. However, in this case plaintiffs Jason Sheldon and Steven Hunsberger had to invest a significant amount of money. The plaintiffs were led to believe that they were starting their own businesses, but the complaint alleges that State Farm controlled nearly everything and provided a great deal of misinformation.

Can of Pepsi

The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) allows employees who are terminated by certain companies to continue their health insurance for a number of months after termination. The complaint for this class action claims that Pepsico, Inc. violated the law in not giving its employees proper information about COBRA. 

Building for Blue Cross Blue Shield of Minnesota

If a health insurance company believes it overpaid on previous benefits, can it reduce payments for current, unrelated benefits? The complaint for this class action says it can only if its plan authorizes it. The plan for Blue Cross Blue Shield of Minnesota (BCBSM) does not authorize it, the complaint says, and the reduced benefits paid are a violation of the Employee Retirement Income Security Act (ERISA). 

ConAgra Logo

The complaint for this class action notes that certain changes were made to ConAgra Brands Retirement Income Savings Plan in 2015, at the same time as the company laid off around 30% of its workforce. The changes disadvantaged terminated employees, and the complaint claims that ConAgra wanted to save money at their expense. It brings suit under the Employee Retirement Income Security Act (ERISA).

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).

Folder in File of Folders Marked "Pension"

Plaintiff Robert Koch makes two claims under the Employee Retirement Income Security Act (ERISA). According to the complaint in the class action he filed, (1) he should have been paid a retroactive benefit or an actuarial increase for retiring years later than the plan’s normal retirement age, and (2) he should not have had his benefits reduced under later amendments to the retirement plan. 

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. 

Hands of PTSD Patient and Medical Person with Clipboard

The complaint for this class action claims that United HealthCare Insurance Co. (UHIC) and United Behavioral Health (UBH) impose reimbursement penalties on claims for coverage for psychotherapy services, which the complaint says is a violation of the Employee Retirement Income Security Act (ERISA) parity provisions and the Affordable Care Act (ACA).

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).

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