Fourth Circuit Overturns Class Certification of 401(k) Plan Investment Loss Case
The Fourth Circuit overturned class certification of a lawsuit challenging the selection of 401(k) defined contribution plan investment funds.
In a ruling that upends conventional thinking on the standards for class certification of claims brought under ERISA section 502(a)(2), the Fourth Circuit overturned class certification of a lawsuit challenging the selection of 401(k) defined contribution plan investment funds. Trauernicht v. Genworth Fin. Inc., 2026 WL 667917 (4th Cir. Mar. 10, 2026). Drawing a distinction between defined contribution plans and defined benefit plans, the court rejected certification of the claims under Federal... By: Proskauer - Employee Benefits & Executive
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