We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Fidelity Sued Over 401(k) Fees

Law360 (December 14, 2006, 12:00 AM EST) -- 401(k) manager Fidelity Management Trust Co. has been named in a lawsuit brought by employees of farm-equipment giant Deere & Co. who allege the investment company charged excessive and improper fees for its services.

The case is one of many of its kind filed in recent months alleging companies’ 401(k) plan managers breached their fiduciary duties by allowing revenue sharing and charging plan participants inflated fees.

Three employees who participated in the John Deere Savings & Investment Plan filed the most recent suit in the U.S....
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.