Plaintiffs Firms Put More 401(k) Fee Lawsuits In Motion

Law360, New York (December 14, 2006, 12:00 AM EST) -- Plaintiffs firms have their sights set on a new target: 401(k) plans. In recent months, almost a dozen suits have been launched against 401(k) plan sponsors, alleging they allowed plan supervisors to charge excessive fees.

The beginning of this trend can be traced back to cases filed by St. Louis, Mo.-based firm Schlichter, Bogard & Denton in September. To date, the firm has filed 11 suits naming Fortune 500 companies and their 401(k) management committees as defendants.

The Schlichter firm’s cases focus on revenue sharing and...
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