Jun 19, 2020
Landmark Supreme Court Ruling Defends LGBTQ Rights June 15, 2020. In the biggest triumph for gay rights since 2015, th
Feinstein Doyle Payne & Kravec, LLC served as lead counsel representing participants in the First Horizon National Corporation 401(k) Plan in litigation to recover losses to the Plan’s assets.
The class action lawsuit alleged that Plan fiduciaries violated ERISA by investing in its own First Horizon stock while it was concealing its large exposure to highly risky Collateralized Debt Obligations, subprime mortgages, and other low-quality securities. The lawsuit also alleged that the Plan did not consider investment options other than mutual funds owned by First Horizon, which was improper.
By clicking on the links, you can review the Fourth Amended Complaint, as well as the Court’s Decision Denying Defendants’ motion for partial summary judgment; the Court’s decision granting in part and denying in part Defendants’ motion to dismiss and the Court’s Order Order granting preliminary approval of class action settlement. The final settlement hearing was held September 13, 2012.
The Court approved the settlement and issued its Final Order on September 13, 2012. Final Order and Judgment.
The Settlement Administrator is currently reviewing and allocating claims. Settlement allocations will then be distributed to the 401(k) plan, which will then issue the funds to class members’ accounts.