Kraft, Altria Face Class Action Over 401(k) Plan

Law360, New York (July 8, 2008, 12:00 AM EDT) -- Kraft Foods Global Inc. and Altria Group Inc. have been hit with a class action alleging fiduciary duty violations for allegedly mismanaging employee 401(k) plans and charging excessive fees.

Gerald George and three other participants in a 401(k) plan operated by Kraft filed a lawsuit on July 2 in the U.S. District Court for the Northern District of Illinois.

The suit alleges that the defendants selected and maintained “poor-performing actively managed investment options” for the plan in violation of the Employee Retirement Income Security Act....
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Case Information

Case Title

George et al v. Kraft Foods Global, Inc. et al


Case Number

1:08-cv-03799

Court

Illinois Northern

Nature of Suit

791(Labor: E.R.I.S.A.)

Judge

Honorable Ruben Castillo

Date Filed

July 2, 2008

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