401(k) Class Actions Becoming Hottest Ticket In Town

Law360, New York (May 21, 2007, 12:00 AM EDT) -- After months of trickling into the courts, ERISA suits charging 401(k) plan sponsors with breaches of fiduciary duty have skyrocketed in number as more plaintiffs firms boldly step into the fray and Congress weighs in on the debate.

In recent months, 401(k) litigation has become the weapon of choice among plaintiffs firms with the new type of class actions targeting a slew of Fortune 500 companies and their 401(k) management committees.

The beginning of this trend can be traced to September 2006, when St. Louis, Mo.-based...
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