Class Certified In 401(k) Fee Case Against Edison

Law360, New York (July 2, 2009, 12:00 AM EDT) -- A federal judge has certified a class of employees at Edison International who allege that the electric power company offered 401(k) plans that charged excessive fees and engaged in illegal self-dealing.

Judge Stephen V. Wilson of the U.S. District Court for the Central District of California certified the class on Tuesday, which is open to all people, other than the defendants, who were or are participants of the plan in question. According to the ruling, the number of plan participants was between 16,000 and 19,000 at...
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