Sweeping Class Gets OK In Walgreen's $300M 401(k) Suit

By Michael Angell (February 12, 2021, 2:19 PM EST) -- An Illinois federal judge gave a green light to a 240,000-person class in a lawsuit accusing pharmacy chain Walgreen Co. of costing workers $300 million by steering their retirement savings into mutual funds that brought subpar returns.

On Thursday U.S. District Judge Charles R. Norgle Sr. approved a motion for class certification from 15 participants in a 401(k) plan who claim the retail pharmacy giant failed in its oversight of funds offered in its retirement plan. Judge Norgle said there were enough people who could make similar claims, the 15 participants pledged to protect the class' interests, and they had hired...

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