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ERISA and Financial Abuse News

Schlichter Bogard & Denton Reaches Preliminary $18.1 Million Settlement on Behalf of MIT Retirement Plan Participants

On October 28, 2019, a class of current and former Massachusetts Institute of Technology retirement plan participants represented by Schlichter Bogard & Denton filed a motion for preliminary approval of an $18.1 million settlement in an ERISA fiduciary breach case. Employees and retirees had alleged, among other things, that MIT’s retirement plan overcharged participants and offered poorly […]

Vanderbilt Settlement Receives Final Approval

On October 22, 2019, Judge Waverly D. Crenshaw, Jr. of the U.S. District Court for the Middle District of Tennessee entered an order approving a $14.5 million settlement of a class action case brought by Schlichter Bogard & Denton on behalf of Vanderbilt University workers and retirees. The lawsuit alleged, among other things, that Vanderbilt’s […]

Class of Yale University Workers Represented by Schlichter Bogard & Denton Certified

On September 24, 2019, the U.S. District Court for the District of Connecticut certified a class of Yale University retirement plan participants represented by Schlichter Bogard & Denton. The plaintiffs in the case allege that the defendants offered investment options that charged unreasonable fees and failed to control administrative expenses, among other claims. “This decision […]

ABB Case Shows Danger of “Scorched Earth” Approach to Defending Retirement Plan Cases, Says Law360 Article

On September 4, 2019, Law360 published an article describing the settlement of a class action lawsuit handled by Schlichter Bogard & Denton as a “cautionary tale” for defendants and insurers in retirement plan litigation. The case, brought by participants in ABB Inc.’s retirement plan, settled in March 2019 for $55 million after over 12 years […]

Jerry Schlichter Interviewed by NPR’s “All Things Considered” About Case on Behalf of MIT Employees and Retirees

NPR interviewed Jerry Schlichter for a piece on its national “All Things Considered” broadcast regarding an ERISA class action against the Massachussetts Institute of Technology handled by Schlichter Bogard & Denton on behalf of MIT employees and retirees.  The lawsuit, set for trial in September 2019, alleges that MIT allowed excessive fees to be charged […]

Schlichter Bogard and Denton Achieves $14 Million Preliminary Settlement of Retirement Plan Case Against Johns Hopkins

On August 6, 2019, a class of Johns Hopkins University retirement plan participants represented by Schlichter Bogard & Denton filed a motion for preliminary approval of the settlement reached in their ERISA class action suit.  The $14 million settlement, if approved by the court, would conclude the case, which alleged that the fiduciaries of the […]

Jerry Schlichter Selected to Business Journals’ Nationwide List of 100 Attorney Influencers

Jerry Schlichter, managing partner of Schlichter Bogard & Denton, has been selected to the Business Journals’ nationwide list of 100 influencers in law for 2019. “No one has had a bigger impact on retirement plans nationally than Jerry Schlichter and his law firm, Schlichter Bogard & Denton” wrote the St. Louis Business Journal. The list […]

New York Times Quotes “Pioneer” Jerry Schlichter on Impact of New Retirement Bill

On June 4, 2019, The New York Times published an article discussing H.R. 1994, the Setting Every Community Up For Retirement Enhancement Act of 2019.This bill proposes changes to the rules governing employee retirement savings plans. Included in the article are thoughts about these proposed changes from Schlichter Bogard & Denton’s founder and managing partner, […]

Interview with Jerry Schlichter Focuses on Retirement Industry Changes Following Schlichter Bogard & Denton’s Excessive Fee Cases

On May 28, 2019, PLANSPONSOR featured an interview with Jerry Schlichter, founder and managing partner of Schlichter Bogard & Denton. The piece, titled “An ERISA Litigation Conversation with Jerry Schlichter,” includes a discussion of changes to the retirement plan industry in the wake of the firm’s successful excessive fee cases. In particular, the article discusses […]

$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.