Anthem 401(k) Participants Win Partial Cert. In ERISA Suit

Law360 (September 14, 2018, 8:21 PM EDT) -- An Indiana federal judge on Friday said a group of participants in a 401(k) plan affiliated with Anthem Inc. can proceed as a class with claims that the plan’s administrators made a faulty investment in a money market fund that caused substantial losses, but she rejected a second proposed class.

U.S. District Judge Tanya Walton Pratt certified a class of current and former participants in the Anthem 401(k), which was previously known as the WellPoint 401(k) retirement savings plan, alleging that the plan fiduciaries breached their fiduciary duty under the Employee Retirement Income Security Act by making imprudent investments in a...

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