ANDREW ALBERT, Plaintiff-Appellant, v. OSHKOSH CORPORATION, et al., Defendants-Appellees., 47 F.4th 570

Summary

HOLDINGS: [1]-As an uncontested declaration from appellee's benefits analyst made clear that appellant invested in at least some actively managed funds, that was sufficient to conclude appellant had standing for his ERISA investment-management fee claims; [2]-Appellant failed to state a 29 U.S.C.S. § 1104 duty of prudence claim as to the fees appellee's plan paid to an investment advisor, as he did not provide any basis for comparison between the fees paid to the advisor and fees paid to other service providers; [3]-Appellant had not identified any comparator investment advisors, and without allegations suggesting that the fees the advisor charged were unreasonable in light of available alternatives, appellant failed to state a claim for breach of the duty of loyalty, 29 U.S.C.S. § 1104.