fiduciary liability

Successful representation of complex claims against plan guardians
Peters & Nye successfully represents and counsels insurers in connection with complex claims brought against administrators, fiduciaries and trustees of Employer sponsored health, pension and retirement benefit plans. Millions of employees and their families’ futures depend on decisions made by the guardians of health, pension and welfare plans. Trustees and fiduciaries now find themselves increasingly subject to criticism from all directions. Beneficiaries, employees, employers and regulatory agencies allege causes of action with increasing frequency asserting that administrators, trustees and fiduciaries breached fiduciary duties to the Plan, imprudently managed the Plan, improperly exposed the Plan to unnecessary risk or negligently administered the Plan. The volatility in the stock markets and the complexities of employer sponsored health plans have resulted in an increased exposure.

Vast experience to handle all claims pertaining to Plan management
We routinely counsel and protect insurers in connection with ERISA related matters including ERISA Stock Drop cases; Department of Labor Investigations and “tag-along” ERISA actions that often accompany securities fraud claims. Our attorneys have vast experience protecting insurers in connection with claims that have been brought against a Plan, its administrators, trustees and/or fiduciaries that involve the failure to render regular accountings, the failure to make prudent investments, the failure to diversify, wasting assets through negligent management or maintenance, abuse of  power with respect to financial decisions, overcharging for services, undisclosed conflicts of interest or self-dealing, failure to enroll, failure to maintain the plan, and the theft or misappropriation of Plan funds.