LexisNexis® Legal Newsroom
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...

Recent New York Case Illustrates the Wrong Way for Attorneys to Distribute Settlement/Estate Funds

A recent New York case provides a strong warning to attorneys in how they distribute settlement funds. It's a reminder that individual and representative capacity can be like oil and water - they sometimes don't mix. Arkady Frekhtman (appellant) represented Abram and Rozalia Ginzburg in a successful...

New California Case – Damages Recoverable Against an Estate Executor for Failure to Timely Distribute Assets Following an Order of Distribution

By David W. Tate Estate of Roger Kampen (California Court of Appeal, First Appellate District, Case Nos. A129849 and A130313, November 14, 2011, Pub. Order December 9, 2011) [ enhanced version available to lexis.com subscribers / unenhanced version available from lexisONE Free Case Law ]. The...

Williams Mullen: Fiduciary Not Liable For Money Damages in Action to Recover Death Benefits: Stocks v. Life Insurance Company of North America

BY: MARK S. THOMAS & ROBERT W. SHAW A federal district court recently applied the U. S. Supreme Court's decision in CIGNA Corp. v. Amara (2011) [ enhanced version available to lexis.com subscribers ], in a practical setting that illuminates both the range and the limits of the Supreme Court's...

NC POA Case Shows It's Better to Plan in Advance

A recent North Carolina Court of Appeals decision affirmed the Superior Court verdict that an agent under a power of attorney did not breach his fiduciary duty to his aunt, Doris King or unjustly enrich himself at her expense. Albert v. Cowart, et al . Even though the defendants prevailed in this case...

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...