Cornerstone Research
has consulted and testified on a variety of ERISA matters, such as the prudence
of including a company’s own stock within its defined contribution plans, asset
managers’ compliance with pension fund guidelines, calculations of early
distributions, and evaluations of actuarial services. We have also evaluated
benefits amid bankruptcies and mergers, along with the fiduciary duties of
trustees and fund managers, among other complex issues.
Stock Drop Cases
Cornerstone Research has
addressed liability and loss causation in litigation over drops in stock
prices, providing settlement estimates and damages analyses on cases including
class actions and suits that have gone to trial. We have also addressed
issuers' and trustees’ allegedly insufficient disclosures of risk factors,
volatility thresholds, and performance benchmarks.
Investments
We have worked on a variety of
ERISA cases focusing on the suitability of specific investments included within
retirement plans. We have addressed allegations of misrepresentations in the
choices offered to individual participants and plan sponsors; insufficient
disclosures about strategy, risks, and performance benchmarks; and securities
fraud. We also have addressed ERISA claims involving allegedly improper options
grants and other sophisticated benefits issues.
ERISA Company Stock Cases Settlement Database
Cornerstone Research maintains an
extensive database of ERISA company stock drop cases, allowing us to provide
relevant historical data on cases and settlements to our clients. Our database
currently contains 247 cases filed since 1997.
Fee Disputes
A growing number of lawsuits
target retirement plan sponsors, trustees, and fund managers for allegedly
charging excessive fees. In addition to class certification work on these
cases, we analyze damages theories while reviewing specific features of the
plans at issue as compared to the defined contribution and benefits industry.
Pensions and Actuarial Issues
Our staff have consulted on a
variety of matters involving pensions, including accounting compliance disputes
and the impact of defined benefits upon employers’ insolvencies. We have
addressed the valuations of annuitized distributions; breach of contract and
fiscal duty disputes between plan sponsors, trustees, and asset management
providers; valuations of pension and health benefits in the context of
terminated plans; portfolio managers’ compliance with pension guidelines; and
alleged deficiencies in the data used to calculate actuarial estimates.
