Tag: Fiduciary
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Finance Expert Witness’ Testimony on ESG Activism Does Not Require Specific Scientific Support
Every year millions of workers set aside their hard-earned dollars to save for retirement. To protect the interests of these workers, Congress passed the Employee Retirement Income Security Act of 1974 (“ERISA”), to remedy “the great personal tragedy” caused by mismanagement of retirement plans that left workers with little to no savings. This class action lawsuit is…
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Testimony of Finance Expert Witnesses About Monitoring Responsibilities Under ERISA Admitted
Class Representatives Peter Trauernicht and Zachary Wright (“Plaintiffs”), on behalf of themselves, the Genworth Financial Inc. Retirement and Savings Plan (the “Plan”), and all other similarly situated individuals, filed suit against Genworth Financial, Inc. (“Genworth” or “Defendant”) alleging that Genworth breached its fiduciary duties under the Employee Retirement Income Security Act. Plaintiffs claimed that Genworth violated its…
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Securities Expert Witness’ Opinion on Defendant’s Breach of Fiduciary Duties Admitted
Plaintiffs are former Salesforce employees who participated in the Salesforce 401(k) Plan. They alleged Defendants breached their fiduciary duties to the Plan and Plan participants in violation of the Employee Retirement Income Security Act of 1974 (“ERISA”). Plaintiffs alleged the Investment Advisory Committee, Joseph Allanson, Stan Dunlap, and Joachim Wettermark (collectively, “Committee Defendants”) breached their fiduciary duty…
