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LUENSE v. KONICA MINOLTA BUSINESS SOLUTIONS U.S.A.

Civil Action No. 20-6827 (JMV) (MF).

541 F.Supp.3d 496 (2021)

Ray Allen LUENSE, Pamela Pearson, Daniel F. Settnek, and Neil Rose, Individually and as representatives of a class of participants and beneficiaries on behalf of the Konica Minolta 401(k) Plan, Plaintiffs, v. KONICA MINOLTA BUSINESS SOLUTIONS U.S.A., INC., Board of Directors of Konica Minolta Business Solutions U.S.A., Inc., Konica Minolta 401(k) Plan Committee, Sandra Sohl, Susan McCarthy, and John Does 1-30, Defendants.

United States District Court, D. New Jersey.

Signed May 24, 2021.

Attorney(s) appearing for the Case

Abigail Gertner, Berger Montague PC, Suite, PA, Eric Lechtzin, Edelson Lechtzin LLP, Newtown, PA, for Plaintiffs.

Philip W. Crawford, Gibbons P.C., Newark, NJ, William J. Delany, Groom Law Group, Chartered, Washington, DC, for Defendants.

OPINION

This putative class action, brought under the Employee Retirement Income Security Act ("ERISA"), arises out of allegations that fiduciaries of Konica Minolta's 401(k) plan breached their duties of loyalty and prudence and engaged in a prohibited transaction. Presently before...

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