ERISA Breach of Fiduciary Duty Class Actions: Avoiding and Defending Claims Against Companies and Fiduciaries

Class suits against pension plan fiduciaries and companies alleging breach of fiduciary duty under ERISA are on the upswing. Allegations range from failure to consider lower cost products, to excessive fees, to using inappropriate benchmarks to give the appearance that investment options were competitively selected. Plaintiffs in these cases seek millions of dollars in damages.

ERISA class claim litigators must keep abreast of emerging and evolving theories of liability and case law developments addressing substantive and procedural issues to effectively defend fiduciaries and companies. Counsel should also advise fiduciaries and companies on best practices to minimize claims.

Listen as our panel of employee benefits attorneys explains current trends in ERISA breach of fiduciary duty class litigation, discusses practical strategies for defeating class certification, and addresses steps plan fiduciaries and companies should take to avoid and reduce the likelihood of ERISA breach of fiduciary duty litigation.

1. ERISA breach of fiduciary duty class claims: current trends
2. Strategies for defeating certification
   1. Standing
   2. Statute of limitations
   3. Exhaustion of administrative remedies
   4. Mandatory arbitration
   5. Other effective strategies
3. Best practices to avoid and reduce ERISA breach of fiduciary duty class litigation

The panel will review these and other key issues:

• What are the latest trends regarding ERISA breach of fiduciary duty class action lawsuits?
• How are courts addressing ERISA class action lawsuits alleging breach of fiduciary duties?
• What strategies have proven effective for counsel for defending ERISA class claims at certification and trial?
• How can plan fiduciaries and companies proactively minimize the risk of being a target of an ERISA breach of fiduciary duty action?