On January 24, 2022, the U.S. Supreme Court ruled in Hughes v. Northwestern University that the plaintiff-participants will get another opportunity to assert that the Northwestern retirement plan fiduciaries violated ERISA’s duty of prudence based on the following: the number of investment options included on the plan menu; the decision to contract with multiple recordkeepers
Podcast: The U.S. Supreme Court Agrees to Hear the Northwestern University Retirement Plan Fee Lawsuit
In this sixth episode of our Ropes & Gray podcast series addressing emerging issues for fiduciaries of 401(k) and 403(b) plans to consider as part of their litigation risk management strategy, Doug Hallward-Driemeier, chair of Ropes & Gray’s appellate and Supreme Court practice, and Josh Lichtenstein, a benefits partner and head of the ERISA fiduciary
New York Judge Finds $600M Opioid Surcharge Unconstitutional
In December 2018, the U.S. District Court for the Southern District of New York ruled that New York’s $600 million fee on the sale of opioids into the state unconstitutionally prohibits pharmaceutical companies from passing the cost onto consumers. Furthermore, the Court ruled that the Opioid Stewardship Act (OSA) violated U.S. Constitution’s dormant commerce clause