Construction Laborers Pension Trust for Southern California v. Meketa Investment Group, Inc.

I. INTRODUCTION

On September 15, 2023, plaintiffs Construction Laborers Pension Trust for Southern California (the “Pension Fund”) and the Board of Trustees for the Construction Laborers Pension Trust for Southern California (the “Board”), each on behalf of the Construction Laborers Pension Plan for Southern California (the “Plan’”), filed this action against defendants Meketa Investment Group, Inc. (“Meketa”) and Judy Chambers (collectively, “defendants”). Dkt. 1. Plaintiffs asserted four claims for relief: (1) breach of fiduciary duty under the Employee Retirement Income Security Act of 1974 (“ERISA”), as against all defendants; (2) breach of contract, as against Meketa; (3) breach of common law fiduciary duty, as against all defendants: and (4) negligence/gross negligence, as against all defendants. Id. On November 17, 2023, defendants filed a motion to dismiss plaintiffs’ complaint, a request for judicial notice in support of their motion to dismiss, and a motion to stay discovery pending the resolution of their motion to dismiss. Dkts. 31, 32, 33. On December 8, 2023, the Pension Fund, along with Jon Preciado, Sergio Rascon, Adrian Esparza, Alex Artiaga, Michael…