Debunking ERISA’s Big Lie that BlackRock LifePath Investment Performance is “Deplorable”
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 […]
Trying to Make Sense of ERISA Pleading Law After the Seventh Circuit’s Oshkosh Decision
The quest for a predictable and fair pleading standard to stop ERISA class action litigation abuse continues. The Supreme Court in Hughes v. Northwestern gave us a limited opinion that did not solve the problem, and even that opinion initially has caused more confusion in the district courts. So the battle continues in the appellate […]
When Should Sanctions Be Imposed in ERISA Class Actions?
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 […]
