Justices Nix 401(K) Fee Appeals By John Hancock, Investors

Law360, Philadelphia (October 29, 2012, 4:08 PM EDT) -- The U.S. Supreme Court declined Monday to hear appeals by John Hancock Life Insurance Co. and a group of investors challenging a ruling barring Investment Company Act claims over 401(k) fees, but allowed Employee Retirement Income Security Act allegations to be made without presuit demands.

John Hancock asked the high court to reconsider a part of the Third Circuit's ruling allowing investors to sue the company for breach of fiduciary duty under ERISA without input from their plan trustees, while investors wanted the justices to allow...
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