401(k) suits filed against Mercedes, Takeda, American Trust
Plaintiffs allege excessive fees and other claims against the auto maker and drug company, while a participant in a plan using American Trust as trustee claims a major distribution was made without his permission. The University of Pennsylvania settled a long-running case over its 403(b).
Two participants in the Mercedes-Benz U.S. retirement plan recently filed a class-action suit against the carmaker, alleging that its 401(k) plan’s sticker price didn’t match its features.
Between 2015 and 2019, the nearly $1 billion 401(k)’s record-keeping and investment advisory fees were
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