Personal Data Is Not A ‘Plan Asset,’ Fidelity Says In Bid To Toss ERISA Claims

Mealey's (June 23, 2020, 2:38 PM EDT) -- GALVESTON, Texas — In a June 15 motion to exit a dispute over the management of an ERISA-governed plan for Shell Oil Co. employees, a group of Fidelity-related companies argue that claims that it violated fiduciary duties and committed prohibited transactions as the plan’s record-keeper by marketing product to participants rest on the “faulty premise” that participants’ personal data is a plan asset (Charles Harmon v. Shell Oil Co., No. 3:20cv21, S.D. Texas)....