Cases

A court in the Northern District of Texas dismissed without prejudice an ERISA breach of fiduciary duty suit brought by retirement plan participants against their plan sponsor and its ERISA committee, holding that the participants failed to plausibly allege a breach of the duty of prudence because their comparator stable value funds lacked sufficient factual detail to constitute meaningful benchmarks against the insurer’s Prudential Guaranteed Income Fund, and that the prohibited transaction and failure-to-monitor claims fell with the underlying prudence claim, while granting leave to amend within twenty-eight days.