Daniel R. Sutter is an associate 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.
- 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
AT&T Pension Benefit Plan Litigation (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
CITGO Pension Plan Litigation (N.D. Ill.): Cohen Milstein filed a complaint on behalf of a class of participants and beneficiaries of the CITGO Petroleum Corporation Salaried and Hourly Employees Pension Plans (the “CITGO Plans”), alleging violations of the Employee Retirement Income Security Act (“ERISA”). Plaintiffs’ complaint alleges that, prior to 2018, the CITGO Plans utilized outdated mortality tables to determine the value of joint and survivor annuities (“JSAs”), resulting in married retirees receiving less than the actuarial equivalent of the benefit that ERISA protects. This lawsuit seeks to recover amounts due to members of the class, and to reform the CITGO Plans to fully comply with protections afforded by ERISA to pension plan participants and their beneficiaries.
GWA, LLC 401(k) Profit Sharing Plan Litigation
GWA, LLC 401(k) Profit Sharing Plan Litigation (D. Conn.): On July 24, 2023, Cohen Milstein filed Andrew-Berry, et al. v. Weiss, Case No. Case 3:23-cv-00978 in the United States District Court of the District of Connecticut. This putative ERISA class action has been filed against GWA LLC, a hedge fund manager, and George A. Weiss, on behalf of Plaintiffs, who are participants in the GWA, LLC 401(k) Profit Sharing Plan (the “Plan”), and 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 Employee Retirement Income Security Act of 1974 (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.
Luxottica Group Pension Plan Litigation
Luxottica Group Pension Plan Litigation (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.
MassMutual Thrift Plan Litigation
MassMutual Thrift Plan Litigation: On November 9, 2022, Cohen Milstein filed a class action against Massachusetts Mutual Life Insurance and the fiduciaries responsible for managing the MassMutual Thrift Plan, a defined contribution retirement plan. Plaintiff, who is a participant in the MassMutual Thrift Plan, brings this this action on behalf of all of the Plan’s participants and beneficiaries and alleges that MassMutual and other fiduciaries managing the MassMutual Thrift Plan failed to act prudently and solely in the interest of the Plan participants and beneficiaries and instead engaged in self-dealing in violation of the Employee Retirement Income Security Act of 1974.
Nationwide Savings Plan Litigation
Nationwide Savings Plan Litigation (S.D. Ohio): Cohen Milstein represents participants in the Nationwide Savings Plan in a lawsuit, alleging that Nationwide improperly set its own compensation, earned impermissible profits at the expense of its employees, and exposed its employees’ retirement savings to undue risk.
New York Life Insurance Company 401(k) Litigation
New York Life 401(k) Plan Litigation (S.D.N.Y.): Cohen Milstein represents employees in a lawsuit against New York Life which alleges corporate self-dealing and the prohibited transfer of employees’ retirement assets to defendants at the expense of the retirement savings of New York Life employees and agents.
Southern Company Pension Plan Litigation
Southern Company Pension Plan Litigation (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 filed a lawsuit on behalf of alleging that the trustee of the WBBQ ESOP, Argent Trust Company and the company’s owner, and controlling managers and shareholders breached their fiduciary duties to the W BBQ Holdings, Inc. ESOP, 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
Western Global Airlines ESOP Litigation (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. The lawsuit seeks to restore substantial losses to the ESOP and to disgorge all ill-gotten gains received by the Neff family.
Past Cases
BlackRock 401(k) Retirement Plan Litigation
BlackRock 401(k) Litigation(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.
Triad Manufacturing, Inc. ESOP Litigation
Triad Manufacturing, Inc. ESOP Litigation (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. 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.
Investigations
Johnson & Johnson Prescription Drug Benefit Class Action
Did you work for J&J and purchase prescription drugs through its health plans? As reported by Reuters, a class action lawsuit has been filed against Johnson & Johnson for allegedly mismanaging its prescription drug program in its health plans and allowing plan participants to be overchanged for prescription drugs. If you purchased drugs through the […]
- The National Law Journal Elite Trial Lawyers Rising Star (2023)
- Chambers USA Associate to Watch, ERISA Litigation (2022-2023)
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
August 15, 2023
3rd Circ. Backs Arbitration Denial in Airline ESOP Fight
The Third Circuit on Tuesday refused to force arbitration of a benefits suit from a proposed class of cargo airline workers who allege mismanagement of their employee stock ownership plan, backing a lower court’s decision without full briefing or arguments. In a two-page order, a Third Circuit panel granted a motion for summary affirmance in […]
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
March 9, 2023
ESOP Managers Can’t Force Airline Workers to Arbitrate Suit
A cargo airline’s owners and the caretakers of its employee stock ownership plan must face an Employee Retirement Income Security Act lawsuit in Delaware federal court, a judge ruled Wednesday, throwing out their bid to arbitrate workers’ claims that the defendants mismanaged the transaction that created the ESOP. In a two-page order, U.S. District Judge […]
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
ESOP’s Arbitration Clause Conflicts With ERISA, Judge Says
A Delaware federal magistrate judge recommended tossing a bid by a cargo airline’s owners to arbitrate a suit claiming they sold overvalued shares of the company to an employee stock ownership plan, finding the plan’s arbitration provision conflicts with the Employee Retirement Income Security Act. U.S. Magistrate Judge Jennifer L. Hall said Wednesday that while […]
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
By 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 that are regulated by the Employee Retirement Income Security Act […]
Events
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
November 10, 2022
“MassMutual Sued Over In-House Funds, Services in Worker 401(k)”
COURT: D. Mass. TRACK DOCKET: No. 3:22-cv-30147 JUDGE: Mark. G. Mastroianni COMPANY INFO: Massachusetts Mutual Life Insurance Co. Massachusetts Mutual Life Insurance Co. cost its employees tens of millions of dollars in retirement savings by using its own proprietary funds and recordkeeping services in their $4.1 billion retirement plan, according to a former employee’s federal […]
In the News | Bloomberg Law
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
March 1, 2022
“Overvalued Airline Cost ESOP Nearly $200M, Workers Say”
A group of employees at Western Global Airlines has filed a proposed class action in Delaware federal court accusing the cargo airline’s owners of overvaluing the company when they sold shares to the employee stock ownership plan, causing the plan to lose $188 million over two months. The employees said in their complaint Monday that […]
In the News | Law360
February 24, 2022
Citgo Must Face Early Retirees’ ERISA Suit
An Illinois federal court on Tuesday denied Citgo Petroleum Corp.’s bid to throw out a proposed class action alleging the company’s use of outdated metrics to calculate early retirement payouts meant retirees were shortchanged benefits, determining the former workers made valid claims under federal benefits law. In his opinion denying Citgo’s motion to dismiss Leslie Urlaub […]
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,” Houston Chronicle
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
August 4, 2021
“Citgo Petroleum Latest Employer Sued over Pension Lifespan Data,” Bloomberg Law
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
August 4, 2021
“Retirees Charge Citgo’s Use of Outdated Data Shortchanged Benefits,” Pensions & Investments
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
May 17, 2021
“Wells Fargo Faces Lawsuit for Allegedly Mismanaging Its 401(k) Plan,” ThinkAdvisor
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
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,” Bloomberg Law
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
March 30, 2021
“ERISA Plan Arbitration Clause Faces Skeptical Seventh Circuit,” Bloomberg Law
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 term requiring individual […]
In the News
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,” Pensions & Investments
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
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,” Law Street
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
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,” Pensions & Investments
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
March 16, 2020
“Wells Fargo Hit With ERISA Suit Over $40B 401(k) Plan,” Law360
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
January 1, 2019
Watch These ERISA Cases in 2019
By Karen L. Handorf and Daniel R. Sutter 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 […]
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