Washington, D.C. - The Chamber of Commerce of the United States of America ("Chamber") is one of the most influential lobbying groups in the country, and it regularly submits amicus curiae briefs in significant appellate cases in order to advance its pro-business...

The 401(k) retirement plan participants allege that the Plan’s fiduciaries selected and retained certain actively managed funds with excessively high fees that underperformed other available alternatives including lower-cost index funds. They also allege that the Plan’s fiduciaries failed to properly monitor potentially conflicted dual-registered advisors and their commissions. Plaintiffs’ allegations “taken as a whole are sufficient to make out a claim of breach of the duty of prudence.”

Judge Jesse M. Furman of the U.S. District Court for the Southern District of New York, issued an Order denying a Motion to Stay All Proceedings filed by Defendants in Bilello v. Estee Lauder Inc. Upon the Court’s review of the parties briefs and the relevant factors for staying litigation, the Court denied Defendants’ motion for a stay pending the Supreme Court’s resolution of Hughes v. Northwestern Univ.