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News | Aug 17, 2009

Fifth Circuit Class Action Summary

Turner v. Larry Talbert, 2009 U.S. Dist. LEXIS 50162 (M.D. Tenn. June 15, 2009) – Plaintiffs were participants in a defined contribution 401(k) savings plan under ERISA offered through their employer who alleged that the trustee and fiduciary of the plan either stopped transmitting the employees’ contributions to the plan or failed to insure that the contributions were actually made. Plaintiffs alleged that the administrator of the plan breached its fiduciary duty and made a unilateral decision to freeze the plan’s assets. Plaintiffs moved to certify a class of employees who were supposed to have contributions made to the plan. The Court denied class certification, holding that common issues of fact and law did not predominate. Read the rest of this entry »

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