David Johnson

2 months ago | natlawreview.com | Stacey Cerrone |Stuart M. Gerson |David Johnson |Lynn L. Bergeson

On April 17, 2025, the U.S. Supreme Court, in a unanimous opinion, resolved a circuit split and established a plaintiff-friendly pleading standard for ERISA prohibited transaction claims in Cunningham v. Cornell University, No. 23-1007. BackgroundThe plaintiffs in Cunningham accused Cornell’s retirement plans of engaging in prohibited transactions by paying excessive fees for recordkeeping and administrative services, among other claims.