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5/1/2014: Illinois District Court Dismisses Claim for Disgorgement of Profits (PDF) (U.S. District Court for the Northern District of Illinois)
"Numerous courts in this district agree that a plaintiff cannot pursue a claim under ERISA Section 502(a)(3) if a claim for benefits is available under Section 502(a)(1)(B).... The Court further notes that the Sixth Circuit recently granted rehearing en banc and vacated a panel opinion upholding the district court's award of disgorged profits of $3.8 million under Section 502(a)(3). [Rochow v. LINA] ... Sexton's attempt to characterize the disgorgement of profits in this case as an equitable remedy separate and distinct from the remedy available under Section 502(a)(1)(B) is unavailing.... 'ERISA specifically provides a remedy for breaches of fiduciary duty with respect to the interpretation of plan documents and the payment of claims.' ... Because Section 502(a)(1)(B) provides Sexton with her remedy, the Court discerns no basis for allowing her to proceed with Count II." [Sexton v. Standard Insurance Co., No: 13-C-77 (N.D. Ill. Apr. 30, 2014)]
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