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OOIDA lawsuit against trust fund provider moves forward

Company allegedly failed to fulfill its obligations, OOIDA asserts

Posted January 11, 2017

A court case — in which the Owner-Operator Independent Drivers Association (OOIDA) claims that the provider of a trust fund failed to fulfill its fiduciary duty under a BMC – 85 Trust — will move forward. The Arizona Court of Appeals indicated OOIDA’s class action lawsuit against the financial association may proceed, reversing a lower court’s decision.

The lawsuit was originally filed in 2013 by OOIDA with claims that the defendant failed to pay claims promptly and terminate the trust upon the aggregation of claims as required under the Trust. Allegedly, the company also favored certain beneficiaries to the detriment of others and engaging in conflicts of interest.

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