Insurer, Investors Seek High Court Review Of 401(k) Fee Suit

Law360, New York (August 17, 2012, 6:03 PM EDT) -- An insurer and its investors sparring over 401(k) fees filed petitions Monday asking the U.S. Supreme Court to review a Third Circuit ruling preventing investors from suing under the Investment Company Act but allowing complaints under the Employee Retirement Income Security Act without presuit demands.

The case pits John Hancock Life Insurance Co. against investors in retirement plans the company services. While John Hancock says the investors should not be allowed to sue the company for breach of fiduciary duty under ERISA without input from their...
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