Category: ERISA Litigation

Partner Mark Boyko Quoted in Law 360 and Bloomberg Law

Bailey & Glasser, LLP partner and ERISA litigator Mark Boyko was quoted in Law360 and Bloomberg Law discussing a newly-issued federal 7th Circuit Court of Appeals ruling that may be beneficial to plaintiffs who must meet certain pleading standards to successfully pursue claims against retirement plans that breach their duties to make prudent investment decisions. As told to Bloomberg Law: “’That’s huge’, Boyko said, because a heightened pleading standard on a claim challenging recordkeeping fees would mean that a plan participant would have to do their own request for proposals for these services ‘long before filing their case.’ Instead, ‘it’s enough to show that other plans were able to get lower fees by taking steps plaintiffs plausibly allege the defendant could have done, and that other recordkeepers plausibly would have performed the same or comparable services for a lower price.'” Boyko and BG partner Gregory Porter are pioneers in this area and are currently litigating several cases across the country alleging employers imprudently managed the investments in their 401(k) plans.

To read the articles:

Law 360
Bloomberg Law

N.Y. Federal Judge Recommends Class Action Against Metropolitan Life Proceed

Bailey Glasser and co-counsel Robert Izard and Douglas Needham represent a pair of subclasses of Metropolitan Life Insurance Company whose pension benefits were unlawfully reduced using outdated mortality estimates. On March 20, 2023, a federal magistrate recommended that the claims proceed as a class action.

For more about the ruling, please visit here.

We look forward to the suit moving forward, as it was originally filed in 2018.

PRC Designated Recipient of $560,000 Cy Pres Award

The Pension Rights Center, a nonprofit consumer organization dedicated to protecting and promoting retirement security, was designated the recipient of a $560,000 cy pres award by Bailey & Glasser, LLP.

A cy pres award allows for the distribution of leftover funds from the settlement of a lawsuit to be disbursed to charitable organizations whose mission generally aligns with the purpose of the lawsuit. BG partner Gregory Porter commented that we are “delighted that undisbursed money is going to the Pension Rights Center, which has been working for 47 years to protect retirement security for workers and retirees, particularly for lower and moderate wage earners.” To learn more visit The Pension Rights Center website.

Partner Mark Boyko Quoted in Law 360

“Make no mistake, the decision is a win for workers and retirees” – BG partner Mark Boyko is quoted in Law360 commenting on the impact of a federal court appeal rejecting a management-side argument to force an ERISA lawsuit into individual arbitration, finding that an agreement tucked into ESOP plan documents blocked relief under federal benefits law. However, the panel avoided thornier questions such as whether all ERISA claims could be pushed into arbitration. As Boyko noted, the panel “hung its hat” on the arbitration provision’s block on monetary or other relief being recovered on a class basis and warns “the issues with limiting representative actions are just one of the problems.’”

To the read the full article, visit here.

Bailey Glasser’s Support of the Pension Rights Center

Bailey Glasser was delighted to sponsor the Pension Rights Center’s event on October 26th celebrating the life and legacy of Karen Ferguson. Karen was the Founder of the Pension Rights Center and a tireless advocate who dedicated her life to protecting the retirement security of workers, retirees, and their families. In further recognition of Karen’s legacy, we are also glad to direct a $24,831 cy pres award to the Pension Rights Center to support their mission ensuring individuals receive and retain the retirement benefits they have earned. We have deep experience fighting for the rights of workers and retirees across the country. Our lawyers have recovered hundreds of millions of dollars under the ERISA law for our clients and have fought tenaciously (including winning before the United States Supreme Court) to protect their money and legal rights.

BG Partner Mark Boyko Quoted In PlanSponsor Magazine

BG partner and ERISA litigator Mark Boyko was recently quoted in a PlanSponsor article discussing ERISA pleading standards and employee rights, including the right of plan participants to request certain key documents about their retirement plans and can help evaluate whether litigation is necessary. Mark was quoted saying if a fiduciary is “confident in [its] process, it makes no sense not to overprovide info including those meeting minutes.” Check out the full article here.

Bailey Glasser tenaciously represents clients that include employees, former employees, retirees, and trust beneficiaries, as well as businesses and other professionals victimized by fraud, investment mismanagement, hidden and undisclosed fees, and illegal benefit cutbacks in a number of these settlements. We have a long history of representing clients harmed by hidden or excessive fees, or imprudent investments, in their 401(k) plans.

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