California District Court Denies Motion to Dismiss 401(k) Excessive Fee and Underperformance Claims
Proskauer's Employee Benefits & Executive Compensa
FEBRUARY 27, 2024
A California district court recently denied a motion to dismiss claims that the fiduciaries of a 401(k) plan breached their ERISA fiduciary duties of prudence and loyalty by selecting underperforming, high-cost investments and causing the plan to pay excessive fees for services. Defendants moved to dismiss for failure to state a claim.
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