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ERISA and Financial Abuse News

$24 Million Settlement of BB&T ERISA Class Action Receives Final Approval

On May 6, 2019, Judge Catherine C. Eagles of the U.S. District Court for the Middle District of North Carolina entered an order approving a $24 million settlement of a case brought by Schlichter Bogard & Denton on behalf of participants in the BB&T Corporation 401(k) plan. The lawsuit alleged, among other things, that the […]

Third Circuit Reinstates ERISA Class Action Brought by Schlichter Bogard & Denton on Behalf of University of Pennsylvania Retirement Plan Participants

On May 2, 2019, the U.S. Court of Appeals for the Third Circuit reinstated an ERISA class action against the University of Pennsylvania handled by Schlichter Bogard & Denton.  In the case, workers and retirees alleged that the defendants allowed excessive fees to be charged and included high cost and poorly performing investment options in the […]

Wall Street Journal: Vanderbilt Settlement Handled by Schlichter Bogard & Denton at Forefront of New Retirement Plan Battleground

On May 8, 2019, the Wall Street Journal reported that cases handled by Schlichter Bogard & Denton are at the forefront of a new litigation battleground—the marketing of financial products and services using retirement plan participants’ confidential personal information.  According to the article, as retirement plan fees have fallen, asset managers and recordkeepers have sought to make up lost […]

Schlichter Bogard & Denton Reaches Preliminary $14.5 Million Settlement on Behalf of Vanderbilt Retirement Plan Participants

On April 22, 2019, a class of current and former Vanderbilt University retirement plan participants represented by Schlichter Bogard & Denton filed a motion for preliminary approval of a $14.5 million settlement in an ERISA fiduciary breach case. Employees and retirees had alleged, among other things, that Vanderbilt’s retirement plan overcharged participants and offered poorly […]

$23.65 Million Anthem 401(k) Settlement Receives Preliminary Approval

On April 9, 2019, the U.S. District Court for the Southern District of Indiana granted preliminary approval of a $23.65 settlement in a case handled by Schlichter Bogard & Denton regarding the Anthem 401(k) plan.  The case, filed in 2015, alleged that the plan’s fiduciaries violated their duties to plan participants by including underperforming and […]

Schlichter Bogard & Denton Achieves Historic $55 Million Settlement in Case against ABB

On March 28, 2019, Schlichter Bogard & Denton announced a $55 million settlement in a long-running class action against ABB, Inc.

U.S. Supreme Court Declines to Hear USC’s Appeal in Case Handled by Schlichter Bogard & Denton

On February 19, 2019, the United States Supreme Court denied certiorari in an ERISA case, preserving the Ninth Circuit Court of Appeal’s decision that plaintiffs did not have to arbitrate their claims.

Jerry Schlichter Interviewed Regarding How Retirement Plans Have Changed as the Result of Schlichter Bogard & Denton’s Work

On February 1, 2019, the St. Louis Business Journal profiled Jerome Schlichter, managing partner of Schlichter Bogard & Denton, in a piece titled

Schlichter Bogard & Denton Obtains Class Certification in Anthem 401(k) Case

On January 24, 2019, an Indiana federal judge certified two subclasses of Anthem 401(k) retirement plan participants, allowing the plaintiffs to proceed with their excessive fee claims on a class-wide basis.

Academic Report Attributes Reduced Retirement Plan Fees to Litigation Spearheaded by Schlichter Bogard & Denton

In May, the Center for Retirement Research at Boston College issued a report titled 401(k) Lawsuits: What Are The Causes and Consequences? 

Schlichter Bogard & Denton Secures $17 Million Settlement in 401(k) Excessive Fee Suit Against Philips North America

Schlichter Bogard & Denton has secured a $17 million settlement with Philips North America on behalf ofthousands of participants in the company’s 401(k) retirement plan.