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District Court Dismisses 401(k) Plan Recordkeeper Fee Complaint
Jackson Lewis P.C.Link to more items from this source
Aug. 16, 2021

"The district court addressed the level of detail plaintiffs must provide to move an ERISA breach of fiduciary duty recordkeeping fee allegation from possible to plausible under Federal Rule of Civil Procedure 12(b)(6).... As to the claim of a breach of the duty of loyalty, the district court held that Plaintiffs had to offer more facts than their purported breach of prudence claims, recast as a loyalty claim ... explaining that a valid claim must allege 'something more' than a purported potential conflict of interest." [Johnson v. The PNC Financial Services Group, Inc., No. 20-1493 (W.D. Pa. Aug. 3, 2021)]

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