"The operative complaint now alleges that the sponsors of plaintiffs' benefit plans breached their fiduciary duty of prudence by failing to detect or address TIAA's cross-selling activities.... [P]laintiffs also aver that the sponsors should have investigated how much money TIAA was indirectly generating through its cross-selling strategy, and that they breached their duty ... by not factoring in this significant source of revenue.... In the end, the court was satisfied that TIAA's alleged actions, and the plan sponsors' alleged inactions, together exposed TIAA to ERISA liability, even if it was not a fiduciary, because it had knowingly participated in breaches by the sponsors." [Carfora v. TIAA, No. 21-8384 (S.D.N.Y. May 31, 2024)]  MORE >>