Genworth Financial Inc

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 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.

2026-06-09 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.

2026-06-08 16:10:04

The article discusses the potential demise of ERISA 401k class action lawsuits following a Fourth Circuit decision in Trauernicht v. Genworth Financial Inc., which reversed class certification. This ruling, if upheld, could significantly limit the ability of 401k plan participants to collectively sue for fiduciary breaches, a development favored by corporate interests and plan sponsors. The piece highlights the critical role of class action lawsuits in providing a realistic legal remedy for individuals with smaller claims and the swift efforts by business groups to solidify this precedent.

2026-04-30 10:40:22

Vanguard Capital Management has reported a beneficial ownership of 20,832,785 shares of Genworth Financial Inc. common stock, representing a 5.4% stake in the company. This disclosure was made via a Schedule 13G SEC filing, indicating a passive investment. The filing clarifies that Vanguard entities and affiliated divisions exercise dispositive power over these shares, with some shares also having sole voting power.