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Last month's $16.5 million settlement in an employee benefitsplan case may open the floodgates to suits alleging excessive401(k) fees, and fiduciary liability suits related to Ponzi schemesare poised to climb as well, experts warned at a recentprofessional liability conference.
“I think it's a real game-changing kind of event,” said RhondaPrussack, executive vice president and product manager forfiduciary liability insurance at Chartis Insurance in New York,referring to the tentative settlement reached in Martin v.Caterpillar on Nov. 5–a case that was pending in the U.S.District Court for the Central District of Illinois.
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