Gina Alsdorf Quoted in Insights: “What a Supreme Court Ruling Means for Prohibited Transaction Lawsuits”
Gina Alsdorf was quoted in Insights in an article titled “What a Supreme Court Ruling Means for Prohibited Transaction Lawsuits.” The article discusses the recent U.S. Supreme Court ruling in Cunningham v. Cornell University, which makes it easier for plaintiffs to bring a prohibited transaction lawsuit against retirement plan fiduciaries.
Following the ruling, the number of participant lawsuits against plan fiduciaries may rise, Alsdorf said. If plaintiffs alleging a prohibited transaction don’t initially need to show more than the fact that a transaction with a service provider occurred, there will likely be a surge of “nuisance” cases, she added.
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