Perez

Order

The Court has considered Plaintiff Secretary of Labor Thomas E. Perez’s [hereafter “the Secretary”] motion for partial summary judgment, together with the moving and opposing papers.

The Secretary claims that City National Corporation, various City'National subsidiaries, and various individual employees, acting as fiduciaries, engaged in self-dealing when City National Corporation, or its subsidiaries, received compensation from the City National Corporation Profit Sharing Plan [hereafter “the Plan”] when they were only entitled'to reimbursement for limited, verifiable direct expenses pursuant to the Employee Retirement Income Securities Act of 1974 [“ERISA”]. 29 U.S.C. §§ 1001 -1191c.

The Secretary moves for partial summary judgment against City National Corporation, City National Bank, and the Plan’s Benefit Committee members Ma-rianna Lamutt, Christopher Carey, Michael Cahill, Michael Nunnelee, Richard Byrd, Vernon Kozlen, and Kate Dwyer [collectively hereafter “City National”] on the following ERISA claims: (1) Violation of the fiduciary requirements to act prudently and for the exclusive purpose of providing benefits to Plan participants and beneficiaries, pursuant…