Alert March 25, 2014

New ERISA Litigation Update Available

Goodwin Procter’s ERISA Litigation Practice published its latest quarterly ERISA Litigation Update.  The update discusses (1) the Eighth Circuit’s decision in Tussey v. ABB, the first ERISA excessive fee class action to proceed to a trial on substantially all of the pleaded claims; (2) Tiblier v. Dlabal, in which the Fifth Circuit ruled that a plan investment advisor could not be held liable under ERISA for plan losses as a result of an investment as to which the advisor did not act as a fiduciary; (3)  Fuller v. Suntrust Banks, in which the Eleventh Circuit affirmed the dismissal of claims challenging, under ERISA, the use of proprietary funds in a financial services company’s own retirement plan; and (4) Skin Pathology Associates v. Morgan Stanley, in which the U.S. District Court for the Southern District of New York dismissed a class action complaint brought by a company sponsoring a 401(k) plan, in which it was alleged, among other claims, that the plan’s broker was liable for committing a prohibited transaction.   The update also provides information on the upcoming Goodwin Procter CLE Webinar – “Supreme Court Hears Dudenhoeffer: Implications for Stock Drop and Other ERISA Fiduciary Litigation” and conferences at which ERISA Litigation Practice Partners will be presenting.