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1 month 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.
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Aug 8, 2024 | 
mondaq.com | Matthew T. Biggers |Stacey Cerrone
In its recent decision in State of Utah v. Su, the
Fifth Circuit remanded a challenge to the Department of
Labor's (DOL) environmental, social, and governance (ESG)
rule for investing in defined contribution retirement plans after
the Supreme Court's recent decision in Loper Bright
Enterprises v. Raimondo.
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Aug 7, 2024 | 
jdsupra.com | Matthew T. Biggers |Stacey Cerrone
In its recent decision in State of Utah v. Su, the Fifth Circuit remanded a challenge to the Department of Labor’s (DOL) environmental, social, and governance (ESG) rule for investing in defined contribution retirement plans after the Supreme Court’s recent decision in Loper Bright Enterprises v. Raimondo.
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Jul 18, 2024 | 
jdsupra.com | Matthew T. Biggers |Stacey Cerrone |Lindsey Chopin
A New Jersey federal district court recently granted summary judgment in defendants’ favor in an ERISA excessive fee case accusing Evonik’s 401(k) plan fiduciaries of keeping imprudent investments in the plan and of allowing participants to pay excessive recordkeeping fees. Harris, et al. v. Evonik Corp., et al., No. 20-02202, 2024 U.S. Dist. LEXIS _____ (D.N.J. Jun. 28, 2024).
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Jul 18, 2024 | 
mondaq.com | Lindsey Chopin |Stacey Cerrone |Matthew T. Biggers
A New Jersey federal district court recently granted summary
judgment in defendants' favor in an ERISA excessive fee case
accusing Evonik's 401(k) plan fiduciaries of keeping imprudent
investments in the plan and of allowing participants to pay
excessive recordkeeping fees. Harris, et al. v. Evonik
Corp., et al., No. 20-02202, 2024 U.S. Dist. LEXIS
_____ (D.N.J. Jun. 28, 2024).
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Dec 1, 2023 | 
jacksonlewis.com | Stacey Cerrone |Howard Shapiro |Rene Thorne |René E. Thorne
NEW ORLEANS, LA (December 1, 2023) Nationwide employment law firm Jackson Lewis P.C. is pleased to announce Stacey C.S. Cerrone has been inducted as a Fellow into the American College of Employee Benefits Counsel (ACEBC). Fellows have demonstrated a sustained commitment to the development and pursuit of public awareness and understanding of the law of employee benefits and have at least 20 years of experience as an employee benefits practitioner.
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Jul 24, 2023 | 
jdsupra.com | Stacey Cerrone |Lindsey Chopin
The Fourth Circuit affirmed Aon Hewitt Investment Consulting’s trial victory in a 250,000-member class action suit alleging that Aon breached ERISA’s fiduciary duties. Aon was initially the Lowe’s 401(k) plan’s investment advisor and later was engaged as the plan’s 3(38) delegated fiduciary. The plaintiffs’ fiduciary breach claims alleged that, after being retained as a delegated fiduciary, Aon transferred plan assets to an Aon fund with an unproven track record that underperformed.
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Jul 24, 2023 | 
lexblog.com | Stacey Cerrone |Lindsey Chopin
The Fourth Circuit affirmed Aon Hewitt Investment Consulting’s trial victory in a 250,000-member class action suit alleging that Aon breached ERISA’s fiduciary duties. Aon was initially the Lowe’s 401(k) plan’s investment advisor and later was engaged as the plan’s 3(38) delegated fiduciary. The plaintiffs’ fiduciary breach claims alleged that, after being retained as a delegated fiduciary, Aon transferred plan assets to an Aon fund with an unproven track record that underperformed.
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Jul 17, 2023 | 
jdsupra.com | Stacey Cerrone |Lindsey Chopin
The Third Circuit refused to enforce a mandatory arbitration clause with a class action waiver in an ESOP, finding that the class action waiver deprived participants of statutory rights. The ESOP plan added the clause at issue in 2017. When plaintiffs filed a putative class action in 2019 asserting fiduciary breach and prohibited transaction claims, Defendants moved to dismiss on the grounds that the plan document required arbitration.
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Jul 14, 2023 | 
lexology.com | Lindsey Chopin |Stacey Cerrone
The Third Circuit refused to enforce a mandatory arbitration clause with a class action waiver in an ESOP, finding that the class action waiver deprived participants of statutory rights. The ESOP plan added the clause at issue in 2017. When plaintiffs filed a putative class action in 2019 asserting fiduciary breach and prohibited transaction claims, Defendants moved to dismiss on the grounds that the plan document required arbitration.
