The lead plaintiffs’ attorney says the Supreme Court has confirmed that it is the employer’s obligation, not the employee’s, to make sure funds in the plan are prudent and not excessively costly.
Expert attorneys say the new ruling can be interpreted as ‘modestly expanding’ the precedents set by the Supreme Court in Tibble v. Edison, but its ultimate impact may be limited.
Excessive fee lawsuit activity has ramped up with no major decisions by the courts; however, a pending decision by the U.S. Supreme Court in one case could impact the amount of activity going forward.