Benefits & Executive Comp

Shriners Hospital Advances Suit Over Benefactor Retirement Plan

Feb. 19, 2021, 8:57 PM

Nonprofit health provider Shriners Hospitals for Children advanced the bulk of its 16-count lawsuit claiming it was improperly denied its share of the proceeds from a deceased businessman’s $15 million profit-sharing plan, according to a ruling by a federal judge in North Carolina.

The hospital can press state law fiduciary breach and fraud claims against parties connected to the Paul F.M. Shaver III Profit Sharing Plan, Judge Louise W. Flanagan of the U.S. District Court for the Eastern District of North Carolina held Thursday.

But some claims for breach of contract and violation of the Employee Retirement Income Security Act...

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