Lawsuit Challenges Fees in Kimberly-Clark’s 401(k) Plan
The plaintiffs allege plan fiduciaries used what it calls ‘cobbled-together services from many providers’ and didn't monitor fees for any of them.
Barnabas Health Retirement Plan Lawsuit Moves Forward
Plan fiduciaries' motions to dismiss the excessive fee suit were denied as a federal judge found the plaintiffs' claims were plausible.
Excessive Fee Lawsuit Settled for $2.3 Million
Brenntag North America denied any wrongdoing regarding the alleged failures that plaintiffs said caused excessive investment and recordkeeping fees in its retirement plan.
Lawsuit Says Retirement Plan Fiduciaries Failed to Monitor and Limit Revenue Sharing
The complaint against Wesco Distribution also alleges that the defendants chose higher-cost share classes for investments.
Judge Moves Forward ERISA Suit Against Coca-Cola Bottler
The judge found that plaintiffs in the case challenging the use of an actively managed TDF suite rather than its index version have pleaded sufficient claims.
ICON Clinical Research Faces Common ERISA Claims
One feature the new complaint has in common with suits filed previously by Capozzi Adler is its reliance on comparing the plan’s expenses for investments and administration services with a group of alleged peers.
Judge Moves Forward Claims in Lawsuit Against Schneider Electric
Claims were also moved forward against defendant Aon Hewitt Investment Consulting related to a target-date fund (TDF) switch.
Lawsuit Against MEP Takes Issue With Share Classes, Revenue Sharing
Fiduciaries of the multiple employer plan of professional employer organization (PEO) Nextep, Inc. are being sued over excessive investment and recordkeeping fees.
Cerner Agrees to $4.05 Million Payment to Settle Excessive Fee Suit
The proposed settlement agreement also includes non-monetary terms.
Actively Managed Funds and High-Cost Share Classes Called Out in ERISA Suit
Participants of a terminated 403(b) plan say the plan sponsor's fiduciary breaches caused them approximately $4.6 million in losses.
Analysis Shows Participant Fees Higher in Plans With Revenue Sharing
Researach also found that mutual funds that pay revenue sharing are more likely to be added to plan investment menus and are less likely to be deleted from them
Lawsuit Alleges Fiduciaries Allowed Excessive Fees in Cognizant 401(k)
Fiduciaries are accused of failing to switch to and investigate the availability of lower-cost versions of funds offered in the plan.
After Dismissal, Parties in Cerner Excessive Fee Lawsuit to Discuss Settlement
A federal judge granted Cerner’s motion to dismiss the case then reopened it on the same day, announcing the parties were to discuss a potential settlement.
Excessive 401(k) Fee Suit Filed Against Parent Company of Victoria’s Secret
The lawsuit accuses plan fiduciaries of failing to benchmark recordkeeping fees and failing to monitor investment fees, among other things.
Reliance Trust Reaches Deal on 401(k) Excessive Fee, Self-Dealing Suit
Admitting no wrongdoing, Reliance Trust will pay $39.8 million to settle the case.
Nestle Sued Over Fees for Managed Accounts, Recordkeeping
The lawsuit contends that, in most cases, the managed account service added no material value to participants, creating asset allocations 'not materially different than' those of the age appropriate target-date options for participants.
Northwestern University Case Plaintiffs Petition Supreme Court
The high court has been asked to weigh in on whether allegations that investment fees charged were excessive compared to other investments is sufficient to state a claim of imprudence.
MGM Resorts 401(k) Joins List of Excessive Fee Lawsuit Targets
The lawsuit challenges the use of actively managed funds over passive funds and the use of higher-cost share classes, among other things.
ERISA Excessive Fee, Self-Dealing Suit Targets MEP
Pentegra Retirement Services and other plan fiduciaries are accused of failing to make sure fees are reasonable and acting in Pentegra’s, not plan participants', interest.
Biogen Faced With Lawsuit About Use of Active TDF Suite
The lawsuit is one of many filed recently claiming that the use of an index suite of Fidelity TDFs is more prudent.