Markham Leventhal Quoted in Life Annuity Specialist: “More Lawsuits Attack Athene PRT Deals”
Markham Leventhal was quoted in Life Annuity Specialist, in an article titled, “More Lawsuits Attack Athene PRT Deals.” The article discusses two class action lawsuits alleging that companies failed to meet federal fiduciary standards when they agreed to purchase group annuities used to fund pension obligations.
“Unfortunately, the current state of the law too often allows creative plaintiffs' counsel an opportunity to second-guess perfectly reasonable business decisions by plan sponsors, even decisions undertaken after a thoughtful committee process, leading to a proliferation of ERISA class actions," Leventhal stated. "This has become a cottage industry for some class-action lawyers."
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