Novant Health Sued Over Retirement Plan Fees

Law360, New York (March 14, 2014, 2:32 PM EDT) -- A group of current and former Novant Health Inc. employees on Wednesday slapped the company with a proposed class action accusing it of shortchanging workers who participate in its retirement plans by paying millions of dollars in excessive fees to third-party service providers.

The lawsuit, filed in North Carolina federal court by six current and former employees, claims that the company, as well as its Novant's administrative and retirement plan committees, breached fiduciary duties under the Employee Retirement Income Security Act by causing plan participants to pay...
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