Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Commodities  >  World (autre bourse)  >  NYMEX Henry-hub gas       

NYMEX HENRY-HUB GAS
My previous session
Most popular
SummaryNews 
News SummaryAll newsTweets

Edison International : Appeals Court Orders $13.1 Million in Damages in Landmark 401(k) Case

share with twitter share with LinkedIn share with facebook
share via e-mail
0
09/08/2017 | 10:47pm CEST
By Anne Tergesen 

Edison International was ordered to pay $13.1 million in damages in a case over 401(k) fees that went to the U.S. Supreme Court in 2015, according to a Sept. 5 court filing.

Last month, the U.S. District Court for the Central District of California ruled that Edison had breached its fiduciary duty by investing in retail rather than cheaper institutional share classes of 17 mutual funds in its 401(k) plan.

Filed in 2007, Tibble v. Edison International was the first and so far only 401(k) fee case to go to the Supreme Court, which ruled retirement plans have an ongoing duty to monitor plan investments, including fees. After that ruling, the case returned to the lower courts, culminating in the recent ruling, under which the court approved the formula for setting damages.

Plaintiffs were represented by attorneys from Schlichter, Bogard & Denton LLP of St. Louis, a pioneer in the area of 401(k) fee litigation. That firm has also represented plaintiffs in other 401(k) fee cases, some of which resulted in multimillion-dollar settlements by companies including Boeing Co. and Lockheed Martin Corp.

Edison said it is "reviewing the judgment," adding that "the funds in question have not been part of the offerings for employees since 2011 and the litigation has not raised any questions regarding the appropriateness of the current portfolio of funds."

Write to Anne Tergesen at anne.tergesen@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
EDISON INTERNATIONAL 0.21% 66.98 Delayed Quote.5.91%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on NYMEX HENRY-HUB GAS
08/14Woodside Petroleum 1st Half Profit Rises, Browse Deal in Sight
DJ
08/14Energy Flat as Oil Prices Weak, Natural Gas at Two-Month High -- Energy Round..
DJ
08/14RWE Reports Lower 1st Half Earnings, Backs 2018 View -- Update
DJ
08/14RWE Reported Lower 1st Half Earnings, Backs 2018 View
DJ
08/13Petronas Acquires 30% Stake in Senegal's Rufisque Offshore Profond Block
DJ
08/10U.S. Oil-Rig Count Rose by 10 in Latest Week -- Baker Hughes
DJ
08/08BHP Billiton to Settle US Class Action Complaint for US$50 Million
DJ
08/08Correction to 'Goldman Sachs in Talks to Buy a Tanker of LNG'
DJ
08/08SOUTHERN : Reports Higher Adjusted Profit as Expenses Fall -- Earnings Review
DJ
08/08GOLDMAN SACHS : in Talks to Buy a Tanker of Liquid Natural Gas
DJ
More news