Debunking ERISA’s Big Lie that BlackRock LifePath Investment Performance is “Deplorable”

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Morningstar has issued a public report debunking the claims in the eleven lawsuits alleging that plan fiduciaries committed fiduciary malpractice by failing to switch out of BlackRock LifePath target-date funds (TDFs) in favor of higher performing investments.  New 401(k) Lawsuits Go Too Far | Morningstar  The Morningstar report conclusively refutes any claim that BlackRock LifePath […]

When Should Sanctions Be Imposed in ERISA Class Actions?

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By Daniel Aronowitz A federal district court has imposed $1.5 million in sanctions against the Schlichter Bogard & Denton LLP law firm and its co-counsel for “recklessly” prosecuting an excessive fee case under section 36(b) of the Investment Company Act of 1940 without credible factual or legal support against Great-West Capital Management.  Sanctions are a […]

BlackRock Cases: Imprudence Claims and Federal Pleading Standards

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By Daniel Aronowitz The Miller Shah law firm has filed nine fiduciary malpractice lawsuits to date against some of the lowest-fee, best-managed defined contribution plans in America.  After years of higher-fee plans with actively managed investment options facing imprudence challenges, this next chapter in the long war against large-plan fiduciaries represents a cynical and meritless […]

TriHealth and CommonSpirit: Justifying Retail-Fee Share Classes in Large Plans

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By Daniel Aronowitz       Euclid Fiduciary The sequel is often not as good as the original, and so it is with the Sixth Circuit’s recent excessive fee rulings.  The June 21, 2022 decision by the Sixth Circuit Court of Appeals in Smith v. CommonSpirit Health was a masterpiece.  The Sixth Circuit ruled that […]

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