Williams Mullen: Case Holds That ERISA Claims Based On Initial Investment Decisions Are Time-Barred

BY: MARK S. THOMAS & ROBERT W. SHAW In a suit brought under the Employee Retirement Income Security Act of 1974, as amended ("ERISA") against Bank of America and its Corporate Benefits Committee, the U.S. District Court for the Western District of North Carolina held that certain...

Troutman Sanders LLP: The Next Frontier in Fiduciary Oversight Litigation?

By Jonathan A. Kenter and Gail H. Cutler In the latest of a series of high-profile class action suits against large 401(k) plans, ABB, Inc., a North Carolina power generation products manufacturer, and its 401(k) plan committees, were held jointly and severally liable, for a record $37 million in damages...