401(k), Pension, and ERISA Litigation
Liner Grode Stein Yankelevitz Sunshine Regenstreif & Taylor LLP (Liner) has a team of lawyers with expertise successfully handling major cases involving 401(k) plans, pension plans, and welfare benefit plans. Our ERISA litigators have been in the forefront of major fiduciary and employee benefits class action litigation throughout the United States, prosecuting claims against some of this country’s largest companies. Liner has been lead counsel in some of the largest and most innovative ERISA class actions. We have expertise in all areas of ERISA and employee benefits law and, when needed, support from other lawyers in the firm with expertise in tax and estate planning, securities, corporate and bankruptcy law.
For more information, contact us for a free consultation.
Types of ERISA cases we prosecute:
- Employer stock litigation. Fiduciaries invest millions, and sometimes, hundreds of millions of dollars of plan assets in their own company stock while simultaneously engaging in highly risky and questionable business and accounting practices. These practices may cause company stock to be an imprudent plan investment option, resulting in significant plan losses
- Benefit Miscalculations. Fiduciaries may not follow the terms of the plan document or apply appropriate actuarial assumptions in calculating benefits, short-changing plan participants of their vested, hard-earned benefits.
- 401(k) Plans. Fiduciary breach claims arising out of improper investments and plan administration.
- Wrongful termination of employment for purposes of denying employee benefits. Participants may be wrongfully terminated in an effort to deprive them of their pension or welfare benefits.
- Cash balance plans. Discrimination against long-term older workers. Plan sponsors may improperly convert their traditional defined benefit pension plans to cash balance pension plans, significantly decreasing the value of benefits for long-term, older workers in violation of ERISA.
- ERISA claims that arise from reductions in workforce or asset sale. These claims arise out of employers’ restructuring and reduction-in-force strategies, such as offers for severance benefits or early retirement packages.
- Misrepresentations and failure to disclose plans for an early retirement window.
Examples of recent cases (click on the case name for more information):
- Kolar v. Rite Aid Corporation, et al. $67 million settlement for over 7,500 participants for claims arising out of alleged improper investment in company stock and sales of unregistered shares of Rite Aid stock to the plan.
- In re Bristol-Myers Squibb ERISA Litig. Recovered $41 million for over 40,000 plan participants plus structural changes to the plan valued at $27 to $52 million.
- In re McKesson HBOC Inc. ERISA Litig. $36.7 million total settlement ($18.2 HBOC settlement and $18.5 McKesson settlement) for claims relating to alleged imprudent investment in company stock.
- LaManna v. Steinberg, et al. $5 million settlement for participants of Reliance National for claims arising out of alleged improper investment in company stock.
- Spann, et al. v. AOL Time Warner Inc., et al. $2.9 million settlement for alleged failure to annualize final year of compensation in calculating defined benefits for thousands of plan participants.
- Holeway v. The Copley Press, Inc. Retirement Plan $1.53 million settlement for alleged failure to apply proper interest rate in calculating lump-sum benefits.
- Keehner v. Retirement Plan for Non-Bargaining Unit Employees of American President Companies, Ltd., et al. $1.125 million settlement for alleged failure to include COLA in calculating lump-sum pension benefits.