Case News

Class Certification Granted in Teets v. Great-West Life & Annuity Co.

On June 22, 2016, the U.S. District Court for the District of Colorado certified a class of more than 270,000 retirement plan participants who invested in the Great-West Key Guaranteed Portfolio Fund between 2008 and the present.  Plaintiffs claim that Great-West breached its fiduciary duties and engaged in transactions prohibited by ERISA by setting the credited rate on the Fund in its own interest rather than in participants’ interests and by paying itself excessive compensation in connection with the Fund.  In addition to certifying the class, the court denied Defendant’s motion to strike the opinion of Plaintiff’s expert witness and appointed Feinberg, Jackson, Worthman & Wasow LLP as class counsel, along with Schneider Wallace Cottrell Konecky Wotkyns LLP, Keller Rohrback LLP, and the Law Offices of Scot D. Bernstein.

Read the opinion here.  Read an article on Bloomberg BNA here. For additional information, contact Nina Wasow or Todd Jackson.