Benefit plan fiduciaries and plan sponsors confront an increasingly active and ERISA-sophisticated plaintiffs' class action bar. Due to tightened legal rules for bringing securities cases, there has been an influx of skilled counsel from the securities field to the benefits arena, increasing both the chances that ERISA lawsuits will be filed and their potential financial impact on employers when they are. On the other hand, because ERISA litigation is very different from securities litigation, skilled ERISA defense counsel who understand ERISA's complexities and nuances nonetheless can provide a strong tactical advantage against such claims.
Employers and plans of all sizes are vulnerable. Particularly in times of economic transitionwhen layoffs, force adjustments, or corporate combinations occurmore plan participants are willing to step forward as ERISA plaintiffs. There are no "silver bullets" protecting employers, plans, and fiduciaries from litigation, but employee benefits professionals can increase the chances that their company's employee benefits program will avoid litigation and defeat legal challenge. Talk with us.
Our Morgan Lewis Labor and Employment ERISA Litigation practice has more than 35 dedicated trial-ready litigators who take on the highest-stakes fiduciary liability casesacross the country, across industries. We are consistently ranked number one nationally by Chambers and Partners and recognized in The American Lawyer's Litigation Department of the Year contest for Labor and Employment.