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/PRNewswire/ - (NYSE: KFS) In furtherance of its strategy of focusing on core operations and acquisitions, Kingsway Financial Services Inc. ("Kingsway" or the.
Judge Finds ERISA Claims Sufficient Against Coca-Cola Bottler
The case, which challenges the use of an actively managed TDF suite rather than its index version, will move forward.
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A federal judge has moved forward a lawsuit against Coca-Cola Consolidated (formerly known as Coca-Cola Bottling Co. Consolidated), its board of directors and its benefits committee alleging that the defendants breached their fiduciary responsibilities by mismanaging the plan’s investment lineup.
The lawsuit specifically challenges the fact that the plan used the actively managed Fidelity Freedom Funds target-date fund (TDF) suite rather than the index suite. The plaintiffs say the active suite is too “high risk” to be suitable for the plan’s participants. They said it has higher fees than the index suite, and other plan fiduciaries and investors lost faith in the active suite. The plaintiffs lodged similar allegations with respect to the Carillon Eagle Small Cap Growth Fund Class R5
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February 2, 2021 On Friday in the District of Columbia District Court, Judge Christopher Cooper partially granted a motion for reconsideration by the plaintiffs in a class-action brought against health insurer CareFirst Inc. and its affiliates after a data breach disclosed the names, birth dates, contact information, and subscriber identification numbers of more than one million individuals insured by CareFirst.
The named plaintiffs of the putative class originally alleged violations of D.C. tort and contract laws and consumer protection statutes of their respective home states. Specifically, they stated 11 causes of action: breach of contract, negligence, violation of the D.C. Consumer Protection Procedures Act (CPPA), violation of the D.C. Data Breach Notification Act, violation of the Maryland Consumer Protection Act (MCPA), violation of the Virginia Consumer Protection Act (VCPA), fraud, negligence per se, unjust enrichment, breach of the duty of confide