The Fiduciary Matters Blog is a collaboration of FRA PlanTools and The Wagner Law Group. The blog provides timely and relevant information on ERISA fiduciary matters for plan sponsors and retirement industry service providers. Is has been visited over 160,000 times since its creation in March 2013. As a resource to the industry, the ERISA Litigation … Continue reading About this Blog
Yesterday, November 5, 2015, the parties in Spano v. Boeing Co. filed for court approval of a Settlement Agreement that was finally made public. Earlier this year in August, the case was settled in principle on the first day of trial but the terms of the settlement were not disclosed. We have now learned that … Continue reading Spano v. Boeing Excessive Fee Case Settles for $57 Million
Last week, the plaintiffs in Tibble v. Edison Int’l and Leimkuehler v. American United Life Insurance Co. separately filed petitions to the United States Supreme Court seeking writs of certiorari. This follows the petition filed by the defendants in Abbott v. Lockheed Martin Corporation seeking to overturn the class cert decision by the 7th Circuit which was very favorable … Continue reading Tibble and Leimkuehler Plaintiffs Separately Appeal to the US Supreme Court
In light of the recent 7th Circuit decision in Abbott v. Lockheed Martin Corporation, the district court in Spano v. Boeing Company has granted the Plaintiffs’ amended motion for class certification. Spano is one of the original excessive fee cases filed in 2006. (Read about the Abbott decision here: Victory for Plaintiffs: 7th Circuit Allows … Continue reading Breaking: Class Cert Granted in Spano v. Boeing Co.
Case Highlights Status of the Case: This is one of the original excessive fee cases filed by Schlichter Bogard & Denton on September 11, 2006. The allegations in the case are: (1) defendants caused the Plan to pay unreasonable administrative fees to its recordkeeper CitiStreet; (2) defendants imprudently included, among the Plan’s 11 investment options, … Continue reading Spano v. Boeing Company