Join us on May 26th – 2:00 – 3:00 PM (EST)
Register for our Live Webinar here.
Plaintiff law firms are terrorizing plan sponsors of many of America’s largest defined contribution plans – filing class actions lawsuits against plan fiduciaries that seek tens of millions of dollars in damages and attorney fees for purportedly breaching their fiduciary duties in overpaying recordkeepers and investment managers. Euclid Specialty’s Daniel Aronowitz will examine the recent surge in excessive fee litigation. Euclid will take a deeper dive into the complaints being filed and how courts have responded. We will raise critical questions to better analyze these cases and help plan sponsors prepare a more effective defense.
Topics to be discussed include:
- Are the Plaintiffs right? Are the recordkeeping and investment fees of large defined contributions in America too high?
- What about your plan? How would a plan sponsor know if their plan’s administrative and investment fees are too high?
- Burden of Proof: What burden of proof should be necessary before a plaintiff firm can file an excessive fee lawsuit and subject a plan sponsor to expensive litigation? How does that compare to the standard of proof that the plaintiffs’ bar is using to file these cases?
- Motion to Dismiss Standards: How are courts responding to Motions to Dismiss? What is the proper standard for reviewing a Motion to Dismiss and dismissing meritless cases?
- Damage Models: What are appropriate damages for alleged excessive fees, and what is the liability of the recordkeeper and investment managers?
- How do Plan Sponsors Fight Back – What should plans do to dismiss meritless cases? Do Plan Sponsors need a more effective defense strategy? What can plan sponsors do to lower their risk of excessive fee litigation?
Please join Daniel Aronowitz, Managing Principal of Euclid Specialty, as we look closer at Excessive Fee Litigation.
Daniel Aronowitz is the Managing Principal and owner of Euclid Specialty, a leading fiduciary liability insurance underwriting company for America’s employee benefit plans. Dan has nearly thirty years of experience in the professional liability industry as a coverage lawyer and underwriter and is a widely recognized fiduciary liability expert and thought leader. He is the author of Euclid’s Fiduciary Liability Insurance Handbook and the fiduciary liability insurance chapter of the Trustee Handbook published by the International Foundation of Employee Benefit Plans. He is a graduate of The Ohio State University and Vanderbilt University School of Law and has achieved the RPLU+ designation from the Professional Liability Underwriting Society.
Euclid Specialty Managers
Euclid Specialty is an insurance program administration company specializing in fiduciary liability insurance coverage for America’s employee benefit plans. Euclid offers best-in-class fiduciary, crime/ERISA fidelity, cyber liability, employment practices, and other professional liability insurance coverages to protect the fiduciaries of U.S. employee benefit plans. Our underwriters and claim professionals are experts in complex fiduciary liability and crime exposures, with decades of fiduciary liability experience and expertise.
Please contact John O’Brien at [email protected] with any questions