The faltering economy, an aging workforce and mass layoffs created the perfect storm for ERISA class action lawsuits during 2009. Class certification issues predominated in cases challenging employer stock incentives in 401Ks and ESOPs, investment management decisions, and management fees.
Other issues addressed during 2009 include breach of fiduciary duties, pension calculations, attorney fee awards, and the effect of Iqbal on pleadings.
The circuits are currently split on whether plaintiffs who received lump-sum distributions have standing to file lawsuits. In addition, courts continue to wrestle with the issue of whether cash balance plans are age-discriminatory.
Listen as our panel of employee benefits attorneys explains current trends in ERISA class action litigation, suggests effective trial and settlement strategies for ERISA class action claims, and discusses steps plan fiduciaries should take to avoid and reduce ERISA litigation.