It\u2019s one thing for a corporate giant to be hit with fiduciary litigation\u2014but quite another when the defendant is a law firm built on legal discipline. The recent lawsuit against Husch Blackwell, filed by a former partner, alleges the firm withheld employee 401(k) contributions, failed to timely forward them, and used them to cover its own operating expenses. \\<\/p>\n
What jumps out to me is how this case exemplifies the \u201csmall & grab\u201d risk\u2014where an internal actor becomes plaintiff, and a single misstep can become a full-blown ERISA action. If part of your firm\u2019s compensation structure or benefits plan involves withholding or directing funds, you better have your fiduciary house in order: clean trails, strict oversight, independent review, and no ambiguity about every penny\u2019s direction.<\/p>\n
Because in the retirement plan world, the people doing the suing sometimes know the law better than you do\u2014and they\u2019ll drag you through all your own documents.<\/p>\n
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