BlackRock Can't Dodge Most Of $100M ERISA Suit

By Adam Lidgett (September 3, 2019, 7:56 PM EDT) -- A California judge on Tuesday refused to toss a proposed Employee Retirement Income Security Act class action claiming BlackRock Inc. improperly filled its workers' retirement plan with poorly performing company-affiliated funds and cost plan participants more than $100 million, but agreed to slightly narrow the scope of the case.

U.S. District Judge Haywood S. Gilliam Jr. mostly denied the investment firm's bid to dismiss a suit from two former workers accusing the company of favoring its own proprietary funds in its workers' 401(k) plan, even though it allegedly led to poor returns.

The judge said that although the defendants might be...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!