Daniel R. Sutter is a partner in Cohen Milstein’s Employee Benefits/ERISA practice. He represents the interests of employees, retirees, plan participants and beneficiaries in ERISA cases across the country.
Prior to becoming an associate at Cohen Milstein, Dan served as a Legal Fellow in the firm’s Employee Benefits practice, where he investigated, developed, and drafted complaints against major financial institutions for ERISA violations. Before that, Dan worked at Cohen Milstein as a law clerk (2013-2016) and as an analyst (2010-2016), where he researched and aided in the development of potential cases for a number of practices.
In law school, Dan was a member of the Federal Circuit Bar Journal, and he also worked as a law clerk at the Consumer Financial Protection Bureau, Legal Division, in the summer of 2015. He also studied at the London School of Economics.
- Member, Law360 Editorial Advisory Board – Benefits (2024)
- District of Columbia
- Maryland
- The George Washington University Law School, J.D., 2016
- The George Washington University, B.A., 2010
Current Cases
AT&T Pension Benefit Plan Litigation
Scott, et al. v. AT&T Inc. (N.D. Cal.): Cohen Milstein represents participants and beneficiaries in the AT&T Pension Benefit Plan who allege that AT&T failed comply with ERISA’s actuarial equivalence requirements when providing married participants joint and survivor annuities.
CITGO Pension Plan Litigation
Urlaub, et al. v. Citgo Petroleum Corporation, et al. (N.D. Ill.): Cohen Milstein represents a certified class of participants and beneficiaries of the CITGO Petroleum Corporation Salaried and Hourly Employees Pension Plans, who allege CITGO violated ERISA by applying outdated mortality tables to the CITGO Plans to determine the value of joint and survivor annuities, resulting in married retirees receiving less than the actuarial equivalent of the benefit that ERISA protects. On October 4, 2024, the Court granted preliminary approval of a $14.75 million settlement.
Casino Queen ESOP Litigation
Hensiek v. Board of Directors of CQ Holding Company, Inc., et al. (S.D. Ill.): Cohen Milstein represents ESOP participants who allege that the Board of Directors of CQ Holding Company, Inc. and related defendants violated ERISA when they created an ESOP to buy their Casino Queen stock for $170 million, a significantly inflated price. In late 2021, the Seventh Circuit directed Defendants to voluntarily dismiss their appeal on the arbitration issue on the heels of our precedent-setting victory before the Seventh Circuit in Smith v. GreatBanc Trust Company, which cited an exception to the Federal Arbitration Act that permits a court to overrule an arbitration agreement if it blocks a party from being able to bring claims under federal law. On November 14, 2024, the court granted preliminary approval of a $7.1 million settlement.
GWA, LLC 401(k) Profit Sharing Plan Litigation
Andrew-Berry, et al. v. Weiss (D. Conn.): Cohen Milstein represents participants in the GWA, LLC 401(k) Profit Sharing Plan who allege that GWA, LLC and George A. Weiss breached their fiduciary duties and misused employee retirement plan assets to further their own pecuniary interest, in violation of ERISA. Specifically, plaintiffs allege that 100% of the Plan’s investments (all of which are 401(k) assets) were and continue to be invested in “The Weiss Funds,” which includes the company’s flagship hedge fund named the “Weiss Multi-Strategy Partners Ltd.” and the company’s mutual fund named the “Weiss Alternative Multi-Strategy Fund,” which generally “replicates” the hedge fund’s strategy.
IBM Personal Pension Plan Litigation
Knight v. International Business Machines Corporation, et al. (S.D.N.Y.): Cohen Milstein represents participants and beneficiaries of the IBM Personal Pension Plan, who allege that the IBM Personal Pension Plan uses outdated mortality tables to determine the value of joint and survivor annuities, resulting in married retirees receiving less than the actuarial equivalent of the benefit that ERISA protects in violation of ERISA.
Intel Minimum Pension Plan Litigation
Berkeley v. Intel Corporation et al (N.D. Cal.): Cohen Milstein represents a putative class of pension plan participants and beneficiaries, who allege that the Intel Minimum Pension Plan utilized outdated mortality tables to determine the value of joint and survivor annuities, resulting in married retirees receiving less than the actuarial equivalent of the benefit that ERISA protects.
Johnson & Johnson Prescription Drug Litigation
Lewandowski v. Johnson and Johnson (D.N.J.): Cohen Milstein represents participants in Johnson & Johnson’s Group Health Benefits Plan in a putative ERISA class action, accusing the pharmaceutical giant of mismanaging its own health plans’ prescription drug program, costing employees millions of dollars in the form of higher payments for prescription drugs, higher out-of-pocket costs and co-pays, and, ultimately, lower wages in violation of ERISA.
Luxottica Group Pension Plan Litigation
Duke v. Luxottica U.S. Holdings Corp., et al. (E.D.N.Y.): Cohen Milstein represents Luxottica pension plan participants in a lawsuit, alleging that the plan used outdated mortality tables to determine the value of participants’ joint and survivor annuities, resulting in married retirees receiving less than the actuarial equivalent of the benefit that ERISA protects.
Nationwide Savings Plan Litigation
Sweeney, et al. v. Nationwide Mutual Insurance Company, et al. (D. Mass.): We represent participants and beneficiaries of the MassMutual Thrift Plan in a class action against Massachusetts Mutual Life Insurance and other fiduciaries responsible for managing the MassMutual Thrift Plan, a defined contribution retirement plan. Plaintiffs allege that MassMutual and other fiduciaries engaged in self-dealing in violation of ERISA, cost its employees tens of millions of dollars in retirement savings.
Southern Company Pension Plan Litigation
Drummond, et al. v. Southern Company, Inc., et al. (N.D. Ga.): Cohen Milstein represents participants and beneficiaries of the Southern Company Pension Plan, alleging that the Southern Company Pension Plan uses outdated mortality tables to determine the value of joint and survivor annuities and the amount it charges retirees for pre-retirement survivor annuities, resulting in married retirees receiving less than the actuarial equivalent of the benefit that ERISA protects.
WBBQ ESOP Litigation
Lloyd, et al. v. Argent Trust Company, et al. (S.D.N.Y): Cohen Milstein represents participants and beneficiaries of the W BBQ Holdings, Inc. Employee Stock Ownership Plan, who allege that the trustee of the WBBQ ESOP, Argent Trust Company and the company’s owner, and controlling managers and shareholders breached their fiduciary duties, causing the ESOP to engage in transactions that are prohibited under ERISA and in connection with the sale of the company to the ESOP for an inflated purchase price that far exceeded its fair market value.
Western Global Airlines ESOP Litigation
Burnett v. Prudent Fiduciary Services, LLC, et al. (D. Del.): Cohen Milstein represents employees in challenging the valuation of Western Global Airlines at approximately $1.3 billion, based on the sale of 37.5% of the company to the ESOP for $510 million. On March 8, 2023, the Court adopted the Magistrate Judge’s January 25, 2023 recommendation to dismiss Western Global Airlines motion to enforce arbitration. On August 15, 2023, the Third Circuit denied defendant's appeal and refused to enforce arbitration, backing the lower court's decision.
Past Cases
BlackRock 401(k) Retirement Plan Litigation
Baird v. BlackRock Institutional Trust Company, N.A. et al. (N.D. Cal.): Cohen Milstein successfully settled this certified class action, in which plaintiffs alleged that the BlackRock 401(k) plan administrators engaged in corporate self-dealing—restricting plan options to BlackRock’s own proprietary funds, and in many cases failing to provide the lowest cost versions of those funds. On November 3, 2021, the Court granted final approval of a $9.65 million settlement.
New York Life Insurance Company 401(k) Litigation
Krohnengold v. New York Life Insurance Company (S.D.N.Y.): Cohen Milstein represented employees and agents of New York Life Insurance in this certified class action against New York Life for allegedly mismanaging its 401(k) and engaging in corporate self-dealing and the prohibited transfer of employees’ retirement assets. Plaintiffs claim that New York Life impermissibly invested participants investments into a Fixed Dollar Account by default and improperly favored and included its own in-house investment funds in its plans, thereby earning New York Life and its affiliates windfall profits. On July 18, 2024, the Court granted final approval of a $19 million settlement - approximately 25% of the alleged losses.
Triad Manufacturing, Inc. ESOP Litigation
Smith v. GreatBanc Trust Company, et al. (N.D. Ill.): Cohen Milstein represented participants and beneficiaries in the Triad Manufacturing ESOP who alleged that the ESOP's trustees breached their fiduciary duties in connection with the sale of Triad Manufacturing to the ESOP. In September 2021, the Seventh Circuit, in a precedent-setting decision, cited an exception to the Federal Arbitration Act that permits a court to overrule an arbitration agreement if it blocks a party from being able to bring claims under federal law. On August 23, 2023, the Court granted final approval of a $14.8 million settlement and granted class certification.
Wells Fargo 401(k) Litigation
Becker v. Wells Fargo & Co., et al. (D. Minn.): Cohen Milstein achieved a $32.5 million settlement prior to class certification and expert discovery. On August 31, 2022, the Court granted final approval of the settlement, resulting in a recovery of 40% of estimated damages for the plaintiffs. The lawsuit alleged that Wells Fargo and its affiliates violated numerous provisions of ERISA by breaching their fiduciary duties and engaging in self-dealing transactions prohibited under ERISA.
- The National Law Journal Elite Trial Lawyers Rising Star (2023)
- Chambers USA Associate to Watch, ERISA Litigation (2022-2024)
January 6, 2025
Cohen Milstein Elects Four New Partners
We are pleased to announce that Jan E. Messerschmidt, Poorad Razavi, Harini Srinivasan, and Daniel R. Sutter have been elected to the firm’s partnership, effective January 1, 2025.
Press Releases | Cohen Milstein
December 2, 2024
Ex-Luxottica Worker’s Pension Claims Must Be Heard In Court
A New York federal judge agreed to revive in-court proceedings on a Luxottica ex-worker's claims in a federal benefits lawsuit that she made on behalf of her pension plan, but held firm on the court's earlier decision to compel individual arbitration of other claims.
In the News | Law360
October 3, 2024
Citgo Will Increase Pensions $10M To End Mortality Table Suit
Citgo will increase the value of pensioners’ retirements by $10 million to settle a class action alleging it shorted early retirement payouts by basing the allowances on outdated mortality tables that used data from the 1970s, according to filings in Illinois federal court. Citgo Petroleum Corp. retirees entered a motion for preliminary approval Wednesday in […]
In the News | Law360
October 4, 2024
Court Preliminarily Approves Citgo “Marriage Penalty” Class Action Settlement
Today, a federal judge granted preliminary approval of a proposed class action settlement that provides $10 million in increased pension benefits to more than 1,700 participants and beneficiaries in two of Citgo Petroleum Corporation’s pension plans.
Press Releases | Cohen Milstein
September 27, 2024
Hedge Fund Inks $7.9M Deal In ERISA 401(k) Investment Suit
A Connecticut-based hedge fund that went bankrupt and owner George A. Weiss have agreed to pay $7.9 million to end an ex-worker’s suit alleging the company plowed its employees’ retirement savings into two substandard proprietary funds, according to filings Friday in Connecticut federal court. The proposed class of participants in a 401(k) plan for employees […]
In the News | Law360
September 18, 2024
Citgo Settles Retirees’ Suit Over Outdated Mortality Data
Citgo struck a deal to settle a class action alleging it shorted retirees in early retirement payouts by basing the allowances on outdated mortality tables that used data from the 1970s, according to a joint notice filed in Illinois federal court. Citgo Petroleum Corp. and a class of retirees alerted the court in a joint […]
In the News | Law360
July 22, 2024
NY Life Workers’ $19M ERISA Deal Gets Final Approval
Current and former New York Life workers received final approval for a $19 million deal ending their lawsuit claiming the insurance giant kept inferior proprietary investment options in its employee 401(k) plans. On Thursday, U.S. District Judge Jesse M. Furman signed off on the settlement agreement, overruling a single objection to the proposed class settlement. […]
In the News | Law360
May 16, 2024
Court Certifies Groundbreaking “Marriage Penalty” ERISA Class Action Against CITGO
Class action certification and recent ruling largely dismissing CITGO’s summary judgment adds fuel to plaintiffs’ claim that CITGO imposed “marriage penalty” on pension plans’ joint and survivor annuity recipients.
Press Releases | Cohen Milstein
May 6, 2024
CITGO Employees Beat Summary Judgment in “Marriage Penalty” ERISA Lawsuit
CITGO Allegedly Imposed “Marriage Penalty” on Joint and Survivor Annuity Recipients in Its Pension Plans CHICAGO – Today, a federal judge wholly denied CITGO’s motion for summary judgment on three of four counts, and also partially denied the motion on the fourth count, allowing a proposed class action lawsuit regarding CITGO’s pension benefits to move […]
Press Releases | Cohen Milstein
March 29, 2024
Sweeping Class Certified In Nationwide Pension Plan Suit
More than 50,000 participants in a Nationwide pension plan can proceed as a class with claims that the company unlawfully transferred assets from the plan to a company subsidiary, as an Ohio federal judge ruled that questions about Nationwide’s conduct outweigh differences among participants. In an order issued Thursday, U.S. District Judge Sarah D. Morrison […]
In the News | Law360
March 20, 2024
Five Cohen Milstein Attorneys Selected for Law360 Editorial Advisory Boards
Five of Cohen Milstein’s attorneys have been appointed to serve on Law360 editorial advisory boards for its Benefits, Competition, Consumer Protection, Discrimination, and Wage & Hour sections. The editorial advisory boards provide feedback on Law360’s coverage and expert insight on how best to shape future coverage.
In the News | Law360
March 19, 2024
Cohen Milstein Joins Prosecution of Novel ERISA Class Action Against Johnson & Johnson
Cohen Milstein recently joined plaintiff’s legal team in Lewandowski v. Johnson and Johnson, a novel class action filed in federal court in New Jersey, accusing J&J of mismanaging the prescription drug program in its health plan, costing employees millions.
Press Releases
February 26, 2024
New York Life To Pay $19M To Settle Retirement Plan Suit
Current and former New York Life Insurance workers asked a federal court Monday to approve a $19 million deal in a proposed class action alleging the insurance giant unlawfully kept underperforming proprietary investment options in two employee retirement plans. Plan participants leading the Employee Retirement Income Security Act suit said in a motion for preliminary […]
In the News | Law360
January 23, 2024
New York Life Strikes Deal To End Workers’ 401(k) Suit
New York Life Insurance Co. and thousands of current and former insurance company workers told a New York federal court Monday that they had struck a deal to settle a case alleging mismanagement of the employees’ 401(k) retirement plan. Parties to the Employee Retirement Income Security Act suit said in a joint letter to the […]
In the News | Law360
June 27, 2023
New York Life Workers Seek Class Nod In 401(k) Suit
A group of current and former New York Life Insurance Co. workers asked for class status in their New York federal court lawsuit alleging the insurance giant retained underperforming proprietary investment funds in two retirement plans, arguing that their claims can be litigated in one fell swoop. The employees said Monday that their Employee Retirement […]
In the News | Law360
April 24, 2023
Manufacturing Co. Agrees To $14.8M Deal in ESOP Suit
Retail display maker Triad Manufacturing and employee stock ownership plan trustee GreatBanc agreed to a $14.8 million deal to end a lawsuit from workers claiming they were overcharged for Triad stock, teeing up an end to a court battle that the Seventh Circuit refused to kick to arbitration. Proposed class representatives James Smith and Jerry […]
In the News | Law360
February 9, 2023
Manufacturing Co. Strikes Deal In ESOP Share Inflation Suit
A retail display manufacturing company has agreed to settle a proposed class action filed in Illinois federal court alleging it violated federal benefits law when it sold inflated company shares to workers through their employee stock ownership plan in a $106 million deal. Triad Manufacturing Inc. workers James Smith and Jerry Honse; Triad’s board of […]
In the News | Law360
January 27, 2023
Travel Co. Workers Agree To $8.7M Deal To End ESOP Suit
Workers for a travel company asked a Pennsylvania federal judge to sign off on an $8.7 million deal to resolve their proposed class action claiming their employee stock ownership plan was overcharged when it shelled out $200 million to buy shares from three of their employer’s founders. The employees asked the court Wednesday to greenlight […]
In the News | Law360
December 13, 2022
Employee Stock Ownership Plans – Understanding the Risks and Rewards
Employee Stock Ownership Plans (ESOPs) are retirement plans that are set up to invest solely in the stock of the employer. Among other things, ESOPs offer the company and employee participants various tax benefits, making them “qualified” plans that are regulated by the Employee Retirement Income Security Act (ERISA). If managed properly, and in accordance […]
Articles | Cohen Milstein
December 7, 2022
Argent Can’t Arbitrate Suit Over $99M ESOP Buy
A New York federal judge refused to send to arbitration a suit claiming Argent Trust let a barbecue chain’s employee stock ownership plan overpay for company shares, ruling Tuesday that the plan’s arbitration agreement is unenforceable because it denies rights afforded under federal benefits law. U.S. District Judge Denise L. Cote said Jamaal Lloyd and […]
In the News | Law360
September 29, 2022
Cohen Milstein Investigates Arizona Public Service’s Parent Company for Miscalculating Pension Plan Mortality Tables Resulting in Underpayment
FOR IMMEDIATE RELEASE Firm to file class action E.R.I.S.A. lawsuit to hold Pinnacle West and fiduciaries accountable Washington, DC – Cohen Milstein Sellers & Toll PLLC, a premier plaintiffs’ class action law firm, is investigating the Pinnacle West Capital Corporation Retirement Plan in anticipation of a potential class action lawsuit. The investigation concerns whether the […]
In the News
September 26, 2022
Federal Lawsuit Filed by Cohen Milstein Alleges IBM Miscalculated Pension Plan Mortality Tables Resulting in Underpayment
Firm is still signing up retirees in IBM’s Personal Pension Plan Washington, DC – Cohen Milstein Sellers & Toll PLLC represents retirees of the IBM Personal Pension Plan (“IBM Plan”) in a class action lawsuit against IBM and the plan administrators. The plaintiffs seek to represent IBM’s married retirees. They allege that for married retirees […]
In the News
June 22, 2022
The Cohen Milstein Benefits Blog
Employee Stock Ownership Plans – Understanding the Risks and Rewards Michelle C. Yau and Daniel R. Sutter Employee Stock Ownership Plans (ESOPs) are retirement plans that are set up to invest solely in the stock of the employer. Among other things, ESOPs offer the company and employee participants various tax benefits, making them “qualified” plans […]
Resources
June 7, 2022
AT&T Workers Seek to Certify 300,000 ERISA Class Members
A group of AT&T Inc. employees and retirees asked a California federal judge to certify two classes containing nearly 300,000 people total in a suit alleging the company miscalculates married couples’ pension plans. The workers said in a motion filed Monday that their case accusing AT&T of violating the Employee Retirement Income Security Act by […]
In the News | Law360
June 3, 2022
IBM Retiree Files Class Suit Over Pensions for Married Workers
Contact us to learn how you may be affected by this lawsuit. IBM retiree Joshua Knight has filed a proposed class action involving the IBM Personal Pension Plan, Bloomberg Law reports. The lawsuit, filed in the U.S. District Court for the Southern District of New York, challenges how IBM calculates retirement benefits for some workers […]
Articles | Bloomberg Law
April 7, 2022
Is a Backlash Against ESG Investing Taking Shape?
A proposal from the conservative American Legislative Exchange Council to block state pension funds from selecting investments based on environmental, social and governance factors is being closely watched by benefits attorneys who say it echoes Trump-era regulations that evinced antipathy toward ESG investing. The model policy, unveiled Wednesday, could give state legislatures a template for […]
In the News | Law360
March 21, 2022
Nationwide Can’t Ax Pension Plan Participants’ ERISA Claims
An Ohio federal judge on Friday denied Nationwide Mutual Insurance Co.’s bid to toss a proposed class action alleging the company breached its fiduciary duty under the Employee Retirement Income Security Act through the mismanagement of employees’ pension plan. In a 14-page opinion, U.S. District Judge James L. Graham denied a request by Nationwide Mutual, its subsidiaries […]
In the News | Law360
February 22, 2022
Citgo Petroleum Retirees Advance Challenge to Pension Calculation
Citgo Petroleum Corp. must face a proposed class action claiming it shortchanges the pensions of certain married retirees by calculating their benefits using outdated lifespan data, according to a Chicago federal court ruling issued Tuesday. Citgo retirees Leslie Urlaub and Mark Pellegrini are moving forward with claims that the pensions they received from Citgo, which […]
In the News | Bloomberg Law
September 13, 2021
7th Circ. Refuses to Kick ERISA Class Action to Arbitration
The Seventh Circuit rejected a St. Louis manufacturing company’s push to send a would-be class action from workers who say they were overcharged for company stock to individual arbitration, saying a “rare” exception to federal law applied. The three-judge panel issued a unanimous opinion Friday backing a district court’s decision not to send the Triad […]
In the News | Law360
August 11, 2021
Citgo Sued for Allegedly Shortchanging Retirees of Millions in Pensions
A class action suit filed last week alleges that Citgo shortchanged retirees by millions of dollars in pension funds. Retired employees in two Citgo Petroleum Corp. pension plans filed a lawsuit Aug. 3 alleging their retirement benefits were diminished because of out-of-date actuarial data. The allegations apply to former Citgo employees who retired before Jan. […]
In the News | Houston Chronicle
August 4, 2021
Retirees Charge Citgo’s Use of Outdated Data Shortchanged Benefits
Retired employees in two pension plans operated by Citgo Petroleum Corp. have sued the company, the pension plans and fiduciaries saying they were shortchanged in their retirement benefits. The plaintiffs, seeking class-action status, allege they and other pensioners were harmed because the Citgo pension plans used out-of-date actuarial tables to calculate retirement benefits. “Plaintiffs and […]
In the News | Pensions & Investments
August 4, 2021
Citgo Petroleum Latest Employer Sued over Pension Lifespan Data
Citgo Petroleum Corp. shortchanges the pensions of certain retirees by calculating their benefits using “punitive” and “severely outdated” lifespan data, according to a proposed class action filed in the Northern District of Illinois. The lawsuit, filed Tuesday by Citgo retiree Leslie Urlaub, challenges how Citgo calculates the benefits of married workers who choose pension formats […]
In the News | Bloomberg Law
May 17, 2021
Wells Fargo Faces Lawsuit for Allegedly Mismanaging Its 401(k) Plan
A judge has denied Wells Fargo’s request to dismiss a class-action lawsuit that claims the mega bank mismanaged its more than $40 billion 401(k) plan. Brought on behalf of participant Yvonne Becker in U.S. District Court for the District of Minnesota, the class-action lawsuit asserts that some high-level executives at Wells Fargo — who were […]
In the News | Think Advisor
May 13, 2021
Judge Moves Forward Wells Fargo 401(k) Self-Dealing Suit
A federal district court judge has moved forward a lawsuit alleging that Wells Fargo 401(k) plan fiduciaries should have been able to obtain superior investment products at a very low cost but instead chose proprietary products for their own benefit, increasing fee revenue for the company and providing seed money to newly created Wells Fargo […]
In the News | PlanAdvisor
May 13, 2021
Judge Denies Wells Fargo Bid to Dismiss ERISA Suit, Pensions & Investments
A federal court judge in Minneapolis rebuffed an attempt by Wells Fargo & Co. and other defendants to dismiss an ERISA complaint filed by a participant in a company 401(k) plan. U.S. District Court Judge Donovan Frank on May 12 rejected every defense submitted in the case of Yvonne Becker vs. Wells Fargo Co. et […]
In the News
May 12, 2021
Wells Fargo Must Defend Affiliated Funds in $40 Billion 401(k)
Bank defeated similar suit in Eighth Circuit in 2018. But this lawsuit has more details, benchmarks, judge says. Wells Fargo & Co. must face a proposed class action challenging the affiliated funds in its $40 billion 401(k) plan after a Minnesota federal judge on Wednesday ruled that plan participants provided meaningful benchmarks showing how the […]
In the News | Bloomberg Law
April 8, 2021
AT&T Workers Challenging Pensions Keep Case in California
AT&T Inc. failed Thursday to convince a federal judge in California to transfer to Texas or dismiss it from a proposed class action brought by employees who challenge the way the company calculates certain pensions. Six former workers sued in the U.S. District Court for the Northern District of California in October, claiming AT&T shortchanges […]
In the News | Bloomberg Law
March 30, 2021
ERISA Plan Arbitration Clause Faces Skeptical Seventh Circuit
WHAT TO KNOW: Arbitration of ERISA plan mismanagement claims at issue. Judges focus questions on attorney arguing for arbitration. An attorney defending a mandatory arbitration clause in an ERISA plan document on Tuesday fielded tough questions from a panel of Seventh Circuit judges, which wanted to square statutory language authorizing plan-wide relief with a plan […]
In the News | Bloomberg Law
March 30, 2021
7th Circ. Judge Doubts Arbitration Can Resolve ERISA Suit
A Seventh Circuit judge on Tuesday pushed a St. Louis manufacturing company to explain how workers alleging retirement plan mismanagement can use individual arbitration to seek relief including the removal of directors, which would inevitably benefit other participants, when the plan’s arbitration provision says any relief can only benefit the claimant. In oral arguments Tuesday, […]
In the News | Law360
March 11, 2021
New York Life Faces ERISA Lawsuit
A participant in a 401(k) plan run by New York Life Insurance Co. has sued the company and plan fiduciaries alleging violations of their ERISA responsibilities for two company retirement plans. “This suit is about corporate self-dealing and the prohibited transfer of employees’ retirement assets to defendants at the expense of the retirement savings of […]
In the News | Pensions & Investments
March 2, 2021
New York Life Sued Over 401(k) In-House Funds, Default Option
If you are interested in learning more about this case or discussing how you may be affected, please complete our brief questionnaire. We will then follow-up to schedule a complimentary consultation with one of our attorneys. New York Life Insurance Co. was sued by a former employee who says the company engages in self-dealing and earns […]
In the News | Bloomberg Law
January 22, 2021
AARP Backs 7th Circ. Bid to Keep ERISA Suit in Court
The AARP and its charitable arm threw their support behind a former Triad Manufacturing Inc. worker’s bid to keep his proposed ERISA class action in the courthouse, telling the Seventh Circuit that the arbitration clause in Triad’s employee retirement plan was illegal. In an amicus brief filed Thursday in a case accusing Triad of mismanaging […]
In the News | Law360
October 13, 2020
AT&T Sued for ERISA Violations
On Monday in the Northern District of California, AT&T was sued in a class-action complaint by six former AT&T workers who participate and are beneficiaries to AT&T’s Pension Plan; the suit revolves around AT&T’s alleged violations of the Employee Retirement Income Security Act (ERISA) in regards to the AT&T Pension Benefit Plan. Specifically, the plaintiffs […]
In the News | Law Street
April 16, 2020
GreatBanc Hit With Class Suit Over $106 Million Stock Plan Deal
A lawsuit filed in the Northern District of Illinois accuses GreatBanc Trust Co. of mishandling a stock plan transaction that caused employees of Triad Manufacturing Inc. to pay $106 million for employer stock that may have been worth less than $4 million. The class action complaint, filed Wednesday by former Triad employee James Smith, claims […]
In the News | Bloomberg Law
March 18, 2020
Wells Fargo Sued Over 401(k) Plan ERISA Violations
Participants in a 401(k) plan offered by Wells Fargo & Co. sued the company and fiduciaries, alleging that plan executives violated ERISA by using several proprietary investments and failing to explore cheaper and better-performing options. The defendants chose investments “that benefited Wells Fargo & Co. and its subsidiaries and executives,” said the complaint filed March […]
In the News | Pensions & Investments
March 16, 2020
Wells Fargo Hit With ERISA Suit Over $40B 401(k) Plan
Wells Fargo & Co. has been hit with a proposed class action accusing the financial services company of mismanaging its $40 billion 401(k) plan by steering more than $5 billion of its workers’ retirement savings into proprietary funds that have cost them $100 million in losses. Yvonne Becker, a former Wells Fargo employee, lodged her […]
In the News | Law360
January 1, 2019
Watch These ERISA Cases in 2019
A number of vexing issues facing ERISA practitioners came to a head in 2018 and are primed to be resolved in the coming year. This article will examine the cases raising these issues, and the impact their resolution in the coming year will have on retirees and the retirement industry. Who Is in Control? Plan […]
Articles | Law360
December 1, 2017
A Rule in Flux, Employee Benefits Committee Newsletter
As litigation about the legality of the Department of Labor’s controversial Fiduciary Rule reaches federal circuit courts, the current administration has turned into the Fiduciary Rule’s biggest adversary. Over a year ago, insurance companies started a broad offensive against the Fiduciary Rule in federal courts across the country. Challengers to the rule have filed six […]
Articles | ABA Section of Labor and Employment Law