Central District Certifies ERISA Class

Retirement
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Judge Stephen V. Wilson of the Central District of California certified an ERISA class in Tibble, et al. v. Edison International, et al., No. CV 07-5359 SVW (AGRx), 2009 WL 6764541 (C.D. Cal. June 30, 2009).  Plaintiffs brought a class action pursuant to ERISA § 502(a)(2) & (3) to recover for alleged breaches of fiduciary duties with respect to the Edison 401(k) Savings Plan (the “Plan”).

Plaintiffs allege that certain defendants breached their fiduciary duties to the Plan by (1) engaging in prohibited transactions in violation of ERISA § 406; (2) breach of the duty of loyalty in violation of ERISA § 404(a)(1) (A); (3) breach of the duty of prudence in violation of ERISA § 404(a)(1)(B); and (4) violation of the terms of the Plan documents in violation of ERISA § 404(a)(1)(D). (SAC ¶ 105.)

Plaintiffs sought certification of the following class: Read the rest of this entry »