Judge Moves Forward Some Claims in Excessive Fee Suit, Rejects Others
A judge found there was no evidence that fiduciaries of B. Braun Medical s retirement plan violated ERISA s duty of loyalty, but he denied dismissal of claims for breach of duty of prudence.
A federal judge has granted in part and denied in part defendants’ motion to dismiss a lawsuit accusing fiduciaries of B. Braun Medical’s defined contribution (DC) retirement plan of failing in their duties to ensure investment fees were reasonable and not excessive.
Judge Edward G. Smith of the U.S. District Court for the Eastern District of Pennsylvania denied dismissal of the claims for breach of duty of prudence under the Employee Retirement Income Security Act (ERISA), but granted dismissal for the claims of breach of duty of loyalty.