Johnson et al. v. Evangelical Lutheran Church in America et al.
Johnson et al. v. Evangelical Lutheran Church in America et al.
2 PagesThe Board of Pensions’ counsel retained Cornerstone Research and Professor Steven Grenadier of the Stanford Graduate School of Business, to analyze the economic impact of the adjustment actions on the proposed class members. Retained by Morgan, Lewis & Bockius The judge granted our client’s motion for denial of class certification in this alleged breach of fiduciary duty matter. The plaintiffs brought a class action on behalf of themselves and other annuitants in the retirement plan offered by the Evangelical Lutheran Church in America (ELCA). The plaintiffs alleged that the Board of Pensions of the ELCA breached its fiduciary duties by reducing annuity payments effective 2010, allegedly despite earlier promises that previous increases in lifetime annuity payments would be permanent. The p
