Featured Jobs
|
Retirement Combo Plan Administrator Heritage Pension Advisors, Inc.
|
|
Distributions Processor - Qualified Retirement Plans Anchor 3(16) Fiduciary Solutions, LLC
|
|
BPAS
|
|
BPAS
|
|
July Business Services
|
|
EPIC RPS
|
|
Compensation Strategies Group, Ltd.
|
|
Nova 401(k) Associates
|
|
DWC ERISA Consultants LLC
|
|
The Pension Source
|
|
Merkley Retirement Consultants
|
|
Defined Benefit Specialist II or III Nova 401(k) Associates
|
Free Newsletters
“BenefitsLink continues to be the most valuable resource we have at the firm.”
-- An attorney subscriber
|
|
|
Text of District Court Opinion Dismissing Participant Claims of Breach of ERISA Duty of Loyalty in Wells Fargo Stock Drop Claim (PDF)
U.S. District Court for the District of Minnesota 
July 23, 2018
"[P]laintiffs do not claim that defendants misled them about 'plan- and benefit- specific information,' such as the terms of Wells Fargo's 401(k) plan.... Instead, plaintiffs claim that defendants failed to disclose inside corporate information 'that might affect the value of the corporation's stock' -- information that would be of interest to every member of the investing public.... [To] the extent that plaintiffs' loyalty claim relies solely on defendants' nondisclosure of inside information about Wells Fargo's present and future financial condition, plaintiffs' loyalty claim must be dismissed." [In re: Wells Fargo ERISA 401(k) Litigation, No. 16-3405 (D. Minn. July 19, 2018)]
|
| Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the linked news item's title). |
| An important word about authorship: BenefitsLink® created this link to the news item, but we are not the news item's author (unless expressly shown above). |