Genworth Financial Inc

2026-06-16 17:10:58

Nationwide Mutual Insurance Co. has requested an Ohio federal judge to revoke class certification for plaintiffs in a 401(k) plan lawsuit, citing a recent 4th Circuit Court of Appeals ruling (Trauernicht v. Genworth Financial Inc.) that found claims involving individualized monetary losses cannot be pursued as a mandatory class action. If this ruling is applied to the Nationwide complaint, it could effectively thwart the case, which accuses the company of overcharging employees for a company-backed retirement fund. The lawsuit alleges that Nationwide's 401(k) plan improperly included an affiliated stable value fund offering less favorable terms to employees than external investors.

2026-06-11 09:01:00

A US Fourth Circuit Court of Appeals ruling denying class status to workers suing Genworth Financial over their 401(k) plan is poised to significantly impact ERISA litigation. The decision, which emphasizes individualized monetary claims and variations in participation, is expected to reduce class certification stipulations and potentially shift where new ERISA lawsuits are filed, especially those challenging fund performance. This marks a departure from previously high class certification rates in ERISA cases.

2026-06-11 09:01:00

A Fourth Circuit court ruling denying class certification for Genworth 401(k) plan participants is significantly impacting ERISA litigation. This decision, which views individual monetary claims in 401(k) cases as not suitable for mandatory class actions without opt-out rights, is expected to reduce class certification stipulations and limit new ERISA lawsuits, particularly those challenging fund performance. It presents a major hurdle for plaintiffs in 401(k) cases and gives employers stronger arguments against class bids.

2026-06-11 09:01:00

A Fourth Circuit decision rejecting a rehearing for Genworth Financial workers' class status in an ERISA case is impacting litigation nationwide. The ruling, which determined individualized monetary claims cannot be grouped in a mandatory class action without specific notice or opt-out rights, challenges the historically high class certification rates in ERISA lawsuits. This shift could make it harder for plaintiffs to secure class status in cases challenging 401(k) fund performance and may lead to fewer ERISA suits filed in the Mid-Atlantic region.

2026-06-09 03:39:53

The U.S. 4th Circuit Court of Appeals has declined to rehear a 401(k) fiduciary breach case against Genworth Financial Inc., upholding its previous ruling that claims involving individualized monetary losses cannot proceed as mandatory class action lawsuits. This decision could significantly limit class actions in complaints against defined contribution plans. The case will now return to the district court, where plaintiffs may attempt to certify a class under a different rule that allows members to opt out.

2026-06-08 22:10:04

The U.S. 4th Circuit Court of Appeals has declined to rehear a 401(k) fiduciary breach case against Genworth Financial Inc., reaffirming its earlier decision to deny class certification. The court found the plaintiffs' claims too individualized for a mandatory class action, which could set a precedent limiting class actions in defined contribution plan lawsuits. The case will now return to the district court, where plaintiffs may seek certification under a different rule allowing class members to opt out.