Lowe's, Aon Hewitt OK Cert. Of Massive Class In 401(k) Suit
Law360 (October 29, 2020, 10:57 PM EDT) -- Lowe's and Aon Hewitt have agreed to let a 401(k) mismanagement suit against them proceed as a class action, asking a North Carolina federal judge to certify a class that could contain hundreds of thousands of current and former Lowe's workers.
The companies joined with former Lowe's employee Benjamin Reetz on Wednesday to request class certification in the case, which says Lowe's Cos. Inc. and its investment consultant, Aon Hewitt Investment Consulting Inc., violated the Employee Retirement Income Security Act when they transferred $1 billion of the hardware retailer's 401(k) plan's assets to the Hewitt Growth Fund.
In exchange for Lowe's...
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