New ERISA Litigation Study Launched
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As part of its ongoing commitment to independent research, analysis and training, Pension Governance, Incorporated and its PensionLitigationData.com partner, The Michel-Shaked Group, are proud to debut a new study about pension litigation statistics for plan sponsors, their service providers, legal counsel and policy-makers, respectively.
Based on over 2,400 ERISA cases filed between January 1, 2005 and August 31, 2008, "ERISA Litigation Study - April 15, 2009" is a statistical overview of pension lawsuits by category, court and case disposition.
The study's findings include the following:
- ERISA lawsuits are increasing in number and complexity in terms of combinations of allegations.
- Nearly every case in the PensionLitigationData.com database is categorized as including an allegation of fiduciary breach.
- ERISA litigation volume was highest for the 2nd, 3rd and 6th federal circuit courts.
- A majority of ERISA-related lawsuits settled out of court.
- Numerous cases examined reflect an ERISA Section 502 claim. (ERISA Section 502 relates to civil enforcements.)
- Some legal venues favored plaintiffs in terms of the reported outcome.
PensionLitigationData.com ("PLD") is a subscription searchable database of pension litigation events. Focused on finance and investment issues, PLD includes cases posted since January 1, 2005. New cases are added on an ongoing basis. Over 100 various identifier codes are used to cross-classify cases, enabling subscribers to search by keyword, circuit, plaintiff, defendant and a host of other relevant attributes. Recognizing the need to simplify an otherwise complex process, PensionLitigationData.com provides litigators, regulators, policy-makers, plan sponsors and their financial advisors and consultants with a user-friendly interface and the wherewithal to gather critical intelligence about litigation activity. Interested parties can email Support@PensionLitigationData.com for more information about customized research projects.
