Case News
BlackRock Settlement
On July 12, 2021, Judge Gilliam of the U.S. District Court for the Northern District of California granted preliminary approval (order can be found here) of a $9.65 million class action settlement in Baird v. BlackRock, et al.
Class Certified in Technical Associates ESOP
On March 2, 2021, the U.S. District Court for the Middle District of Georgia granted Plaintiffs’ motion to certify the class in Gamache v. Hogue (No. 1:19-cv-00021-LAG).
Raydon ESOP Settlement
On August 26, 2020, the parties filed a motion for preliminary approval of a $2.4 million class action settlement in Woznicki v. Raydon Corporation, et al.
Wawa ESOP Settlement
On July 9, 2020, Plaintiffs John Cunningham, Benjamin DiDonato, David Ciuffetelli and John Rucki, Jr., filed a motion for preliminary approval of a class action settlement on behalf of certain former employee participants in the Wawa, Inc.
Eighth Circuit Holds Principal Has Fiduciary Responsibilities to Investors in the Fixed Income Option (“PFIO”), and District Court Rejects Principal’s Challenge to Class Certification
Along with co-counsel, Feinberg Jackson Worthman & Wasow LLP is Class counsel in Rozo v. Principal Life Insurance Company. The case concerns Principal’s breaches of fiduciary duty in setting the credited rate paid to participants in the Principal Fixed Income Option (“PFIO”), an investment vehicle sold to retirement plans. The U.S. District Court for the Southern District of Iowa previously entered summary judgment in Principal’s favor. On February 3, 2020, the Eighth Circuit Court of Appeals reversed, holding that Principal acts as an ERISA fiduciary in unilaterally selecting the credited rate. The order can be found here or at 949 F.3d 1071. Coverage of the case can be found here(1), (2), (3), (4) and (5)
FJWW Files Class Action Lawsuit Against Aliera and Trinity Healthshare Alleging Fraudulent “Health Care Sharing Ministry”
On April 28, 2020, FJWW and its co-counsel filed a lawsuit in U.S. District Court for the Eastern District of California against Aliera and Trinity Healthshare, who together sell and operate a health plan marketed as a “health care sharing ministry,” although it does not meet federal requirements governing HCSMs.
MRMC ESOP Settlement
On April 17, 2020, the U.S. District Court for the District of Delaware preliminarily approved a $19.5 million settlement with Wilmington Trust, N.A. to resolve a class action lawsuit alleging claims relating to the purchase of Martin Resource Management Corporation (MRMC) stock by the company’s Employee Stock Ownership Plan (ESOP). This settlement is a victory for current and former employees of MRMC.
FJWW Files Amicus Brief on Behalf of Pension Rights Center in ESOP Appeal
On March 30, 2020, Feinberg, Jackson, Worthman & Wasow LLP filed an amicus curiae brief on behalf of the Pension Rights Center in the U.S. Court of Appeals for the Fourth Circuit in support of the Plaintiff-Appellant in Lee v. Argent Trust Company (Case No. 19-2485).
Court Rejects Motion to Dismiss by Fiduciaries of the Technical Associates of Georgia, Inc. ESOP
On March 16, 2020, the U.S. District Court for the Middle District of Georgia denied a motion to dismiss in Gamache v. Hogue, et al. (No. 1:19-cv-00021-LAG), allowing Plaintiffs to proceed with their claims that Defendants, who are fiduciaries of the Technical Associates of Georgia, Inc.
Class Certification Granted on Behalf of Martin Resource Management Corporation (MRMC) ESOP Participants in Guidry v. Wilmington Trust, N.A.
On December 10, 2019, the U.S. District Court for the District of Delaware granted Plaintiffs’ motion to certify a class of participants in Martin Resource Management Corporations’s (MRMC) employee stock ownership plan in Guidry v. Wilmington Trust, N.A., — F. Supp. 3d –, 2019 WL 6716372 (D. Del. Dec. 10, 2019). A copy of the Court’s decision can be found here. Coverage of the case by Law 360 is available here. For more information, contact Dan Feinberg at dan@feinbergjackson.com.