SFMS is counsel for plaintiff in the action captioned, Healthcare Strategies, Inc. v. ING Life Insurance & Annuity Co. (“ILIAC”), Civil Action No. 11-282, pending in the United States District Court for the District of Connecticut. On January 18, 2012, Defendant’s Motion to Dismiss was partially denied and partially granted by the Court. The decision on the Motion to Dismiss was issued by the Honorable Janet C. Hall. In this litigation, Plaintiff alleges that ILIAC’s receipt of revenue sharing payments constitutes prohibited transactions and violations of fiduciary duties under the Employee Retirement Income Security Act (“ERISA”), 29 U.S.
C. Sec. 1001, et seq.
The Court denied Defendant’s Motion with respect to claims based on conduct that occurred more than six years prior to the complaint as barred by ERISA’s statute of limitations. The Court granted Defendant’s Motion with respect to claims relating to ILIAC’s fixed account and general accumulation account. With respect to Plaintiff’s demand for a jury trial, the Court denied the Motion with respect to Count I of Plaintiff’s Complaint–Breach of Fiduciary Duty and granted the Motion as to Count II–Breach of Fiduciary Duty and Violation of ERISA’s Prohibited Transaction Rules and Count III–Co-Fiduciary Breach and Liability for Knowing Breach of Trust.