Legal

The class action lawsuit, filed on behalf of 60,000 plan participants, alleges the airline failed to replace a "chronically underperforming" large-cap fund holding over $2 billion in retirement plan assets for 15 years – and "still continues to this day."

The ERISA Industry Committee, along with two other industry groups, is seeking the dismissal of the drugmaker's PRT class action lawsuit over the transfer of its pension plan to Athene Annuity, alleging a breach of fiduciary duties.

The banking giant has been hit with a class action lawsuit, alleging it used retirement plan contributions from departing employees to "offset its employer contributions" rather than reducing plan administrative fees, violating ERISA.

On Wednesday, the justices were divided on the class action lawsuit on behalf of 28,000 Cornell University employees accusing the school's retirement plans of paying excessive recordkeeping fees.

Trillion dollar asset manager Northern Trust has also quit Climate Action 100+, an investor-led initiative of financial institutions, as pushback over ESG investing continues.

In addition to the $40 million Vanguard agreed to pay to investors as part of a class action suit in November, the SEC now finds that the firm did not provide retail investors accurate information about the capital gains and tax implications of a change to investment minimums.