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
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...