Huntington Bancshares Must Face Bulk Of ERISA Suit

Law360 (September 27, 2019, 11:46 AM EDT) -- An Ohio federal judge has trimmed a proposed class action challenging Huntington Bancshares Inc.'s decision to make allegedly underperforming company-owned mutual funds the centerpiece of its 401(k) plan, but refused to toss claims that it failed to look out for plan participants' best interests and saddled the plan with excessive fees.

U.S. District Judge Michael H. Watson issued an order Thursday partially granting a motion to dismiss the Employee Retirement Income Security Act suit against the Columbus, Ohio-based holding company, which runs a midwestern chain of banks.

Judge Watson agreed to toss allegations that the inclusion of Huntington National Bank mutual...

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