Publication Date: 2020-02-19
Practice Area: Consumer Protection
Industry: Investments and Investment Advisory
Court: U.S. District Court of Delaware
Judge: District Judge Connolly
Attorneys: For plaintiff: Robert J. Kriner, Jr., Vera G. Belger, Chimicles & Tikellis LLP, Wilmington, DE; Steven A. Schwartz, Chimicles & Tikellis LLP, Haverford, PA; Franklin D. Azar, H. Zachary Balkin, Paul R. Wood, Jonathan S. Parrott, Franklin D. Azar & Associates P.C., Aurora, CO; Gordon W. Netzorg, Sherman & Howard LLC, Denver, CO for plaintiff.
for defendant: Patricia R. Urban, Pinckney, Weidinger, Urban & Joyce LLC, Greenville, DE; James F. Jorden, Waldemar J. Pflepsen, Jr., W. Glenn Merten, Faegre Drinker Biddle & Reath, Washington, DCs for defendants.
Case Number: D68880
Employee investment plan recordkeeper was not an Employee Retirement Income Security Act fiduciary in setting the fee schedule because it had no existing relationship with the plan or its participants, but had fiduciary duties in preparing regulatory disclosures.