ERISA Class Action Watch

The District Court of Connecticut declined to dismiss the class action against United Technologies’ 401(k) plan on the pleadings. Judge Warren Eginton held that plaintiffs had stated a claim alleging that defendants breached their fiduciary duties by permitting the plan to charge unreasonable and excessive fees. While Judge Eginton dismissed claims for failure to disclose revenue sharing, finding (consistent with the ruling of the W.D. Wis. in Deere) that there was no statutory duty to do so, the core of suit will continue on.

• Taylor v. UTC Ruling on Motion to Dismiss