Lau v. Metropolitan Life Insurance Company

    Plaintiff brought this class action in the United States District Court for the Southern District of New York on behalf of the Jupiter Center Retirement Plan and all similarly-situated employee pension benefit plans covered by the Federal Employee Retirement Income Security Act (ERISA).  Plaintiffs allege that MetLife improperly keeps for its own benefit amounts earned on retirement plan assets invested in MetLife’s Guaranteed Asset Account without disclosing these profits to plan fiduciaries and investors.  The Court denied Defendant’s motion to dismiss the case on August 22, 2016. Plaintiff voluntarily dismissed the case in January of 2018.