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Amicus Brief Filed by CIEBA Supporting Clear Limits on Pleading Standards in ERISA Fee Litigation (PDF)
Committee on Investment of Employee Benefit Assets Inc. [CIEBA]Link to more items from this source
[Opinion]
Nov. 9, 2021

"ERISA was intended to ensure the fair and prudent administration of employee retirement plans. It was not intended to empower federal judges to second-guess the fee selections of fiduciaries in a competitive market. Nor was it designed to facilitate an enormous wealth transfer from plan fiduciaries to the plaintiffs' bar, with no benefit to plan participants. Meritorious claims should prevail, but the type of cookie-cutter nuisance lawsuits that have become so prevalent must meet a swift end." [Hughes v. Northwestern Univ., No. 18-2569 (7th Cir. Mar. 25, 2020; cert. pet. granted No. 19-1401, Jul. 2, 2020)]

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