In Merrimon v. Unum Life Insurance Co. of America, 2014 WL 2960024 (1st Cir. July 2, 2014), the U.S. Court of Appeals for the First Circuit became the third circuit court to approve an insurance company’s use of a retained asset account (RAA) to pay life insurance benefits where the use of an RAA was expressly … Continue Reading
The Supreme Court recently agreed to resolve a circuit split on the pleading requirements for claims that ERISA fiduciaries imprudently invested employee stock ownership plan (ESOP) assets in the stock of the employer—so-called “stock-drop” cases. Under the “Moench presumption,” named after Moench v. Robertson, 62 F.3d 553 (3d Cir. 1995), courts presume that investments of … Continue Reading
Editors’ Note: This post is a joint submission to Baker’s Class Action Lawsuit Defense and Employment Class Action blogs. ERISA class action litigation differs in important respects from many other types of employment class actions, in part because of its unique remedial provisions and continuing issues involving the scope of recovery. In McCravy v. Metropolitan Life Insurance … Continue Reading
Editor’s Note: This Entry is a Joint Submission to the Baker Hostetler Class Action Lawsuit Defense and Employment Class Action Blogs. Be sure to check the employment team’s blog at www.employmentclassactionreport.com for more great content relating to the defense of employment-related class actions. ERISA class certification motions routinely cite cases for the proposition that ERISA cases are the paradigmatic example of … Continue Reading
