Even with the Northwestern University case in the Supreme Court’s hands, I can assure you that the last few years have shown one thing: federal courts are getting tired of sloppily plead ERISA lawsuits. There has been a handful of cases that shows that cases where plaintiffs just have high fees in a complaint that seems to be a Mad Libs fill in the blank fiduciary breach claim.
I think in the future, you will see that alleging high fees isn’t enough. Plaintiffs are. Going to have to show a connection between paying high fees and a connection with a breach of fiduciary duty. Judges. Are tired of these cases and don’t want to second guess plan fiduciaries without evidence that they were derelict in their duties.