Euclid Fiduciary

Most of the focus on the November 14, 2023 decision from the Second Circuit Court of Appeals in Cunningham v. Cornell University will be on the pleading standard for prohibited transaction claims. Beyond this important ruling, however, is the question whether the fiduciary imprudence cases that the Schlichter law firm and others brought against Cornell and nineteen other large universities in 2016 and 2017, many of which have settled for substantial sums, were legitimate cases.

Lessons From the Cornell Excess Fee Dismissal – Investment and Recordkeeping Fee Changes Are Proof Positive of Proper Fiduciary Management - Euclid Fiduciary By Daniel Aronowitz Most of the focus on the November 14, 2023 decision from the Second Circuit Court of Appeals in Cunningham v. Cornell University will be on the pleading standard for prohibited transaction claims. Beyond this important ruling, however, is the question whether the fiduciary imprud...

The concerning implication of the Genworth case is that courts that allow discovery of plan fiduciary committee meetings open up plan fiduciaries to unfair mischaracterizations and second-guessing of their fiduciary process.

How the Genworth-BlackRock LifePath Investment Imprudence Case Survived a Motion to Dismiss Based on “Sparse” Meeting Minutes - Euclid Fiduciary By Daniel Aronowitz The modern professional baseball player is taught to swing up on the ball to try for home runs. A player that hits for power is valued over a player who hits for a high average. It is all about the splashy three-run homer. To wit, the leadoff hitter for the playoff-bound Philadel...

Participants label Intel’s use of hedge funds and alternative investments to hedge volatility as “institutional gambling,” but compare the results to funds with higher-equity allocations that ironically are higher-risk investments. Just because the higher-risk funds did better in a long bull-market is not evidence of fiduciary imprudence, but rather the classic deficiency of ERISA malpractice lawsuits that use outcomes as a proxy for fiduciary imprudence.

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