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Secured dismissal for a major issuer of IRC 403(b) annuity products in a national class action challenging revenue-sharing arrangements under ERISA.

ClientConfidential
Region
Washington
Description
Defended a major issuer of IRC 403(b) annuity products in a national class action in the U.S. District Court for the Western District of Washington and on appeal to the U.S. Court of Appeals for the Ninth Circuit. Plaintiffs sought to challenge, under ERISA, certain alleged revenue-sharing arrangements between the issuer and, among others, a large public school teachers union to whose members the products are allegedly directed. Our motion to dismiss challenged the theory of the case arguing that, as a matter of law, the public school 403(b) plan was not subject to ERISA and could not be regarded as maintained by the union. The motion was granted and dismissal was upheld on appeal.

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click to watch Videocast: DOL Fiduciary Rule Litigation Impacts
Videocast: DOL Fiduciary Rule Litigation Impacts
Atlanta, GA
Washington, DC
© 2017 Sutherland Asbill & Brennan LLP / Sutherland (Europe) LLP
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Experience - Secured dismissal  for a major issuer of IRC 403(b) annuity products in a national class action challenging revenue-sharing arrangements under ERISA.
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