alleging that the church defendants failed to catch an embezzlement scheme which led to losses of church workers and pastors’ retirement plan funds). 6. $19 million – Krohnengold, et al. v. New York Life Insurance Co., Case No. 21 Civ. 1778 (S.D.N.Y. July 18, 2024) (final settlement approval granted in an ERISA class action to resolve claims alleging that the company unlawfully kept underperforming proprietary investment options in two employee retirement plans). 7. $19 million – Colon, et al. v. Johnson , Case No. 22-CV-888 (M.D. Fla. Dec. 17, 2024) (final settlement approval granted in an ERISA class action to resolve claims alleging that the company and executives enacted a scheme that diverted workers’ retirement benefits to shell companies and private equity firm Palm Beach Capital). 8. $14.5 million – Burnett, et al. v. Prudent Fiduciary Services LLC , Case No. 22-CV-270 (D. Del. Sept. 24, 2024) (preliminary settlement agreement granted in an ERISA class action alleging that the Western Global Airlines and its investment manager mishandled the company’s employee stock ownership plan). 9. $11.8 million – Reed, et al. v. MedStar Health Inc ., Case No. 20-CV-1984 (D. Md. Sept. 6, 2024) (final settlement approval granted for an ERISA class action to resolve claims that the company mismanaged its retirement plan). 10. $10 million – Urlaub, et al. v. Citgo Petroleum Corp., Case No. 21-CV-4133 (N.D. Ill. Oct. 4, 2024) (preliminary settlement approval granted in an ERISA class action to resolve claims alleging that the company failed to properly calculate joint and survivor annuity benefits for married retirees and imposed a “marriage penalty” that reduced the joint pensions below the value of pensions paid to single retirees).
21
© Duane Morris LLP 2025
ERISA Class Action Review – 2025
Made with FlippingBook - professional solution for displaying marketing and sales documents online