Goodwin Procter’s ERISA Litigation Practice published its latest quarterly ERISA Litigation Update. The update discusses (1) the U.S. Supreme Court’s decision in U. S. Airways, Inc. v. McCutchen regarding enforcement of a plan reimbursement provision, (2) the Seventh Circuit’s decision in Leimkuehler v. Am. United Life Ins. Co. affirming dismissal of claims against an insurer concerning revenue sharing payments received with respect to mutual funds offered to retirement plans through a platform created and maintained by the insurer in which the funds were held in separate accounts within group annuity contracts, and (3) the Second Circuit’s decision in PBGC. v. Morgan Stanley Investment Management, Inc. affirming dismissal of an ERISA complaint asserting imprudence regarding excessive plan investments in subprime mortgages prior to the subprime real estate crash in 2007 and 2008.
Alert July 02, 2013