B. Braun Medical Must Face ERISA Suit Over 401(k) Plan
June 5, 2021
Law360 (June 4, 2021, 10:32 PM EDT) -- A Pennsylvania federal judge on Friday refused to toss a proposed ERISA class action alleging B. Braun Medical Inc. mismanaged its 401(k) plan, finding that four former employees had backed up their allegations that the medical device manufacturer improperly selected high-cost investments and incurred excessive record-keeping fees.
In partially rejecting Braun's bid to escape the Employee Retirement Income Security Act complaint, U.S. District Judge Edward G. Smith said the ex-workers cannot pursue claims of breach of fiduciary duty of loyalty and failure to monitor, but they could proceed with a claim that the company and related defendants breached their duty of...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!