Daniels v. Bursey

AMENDED MEMORANDUM OPINION AND ORDER 1

KENNELLY, District Judge.

This case concerns the marketing and administration of a “severance trust executive program” (STEP) plan, a type of employee welfare benefit plan targeted to employers with highly compensated employees. John Daniels and Manuel Sanchez, along with other partners and employees of the Chicago-based Sanchez & Daniels law firm, and on behalf of a putative class of STEP Plan investors, sued Step Plan Services, Inc., its principals, and several insurance companies, alleging that the defendants violated the Employee Retirement Income…