March 24, 2021
BlackRock has agreed to pay $9.6 million to end an Employee Retirement Income Security Act class action accusing it of costing workers and retirees millions in unreasonable 401(k) plan fees and bad investment decisions, the investors said in a bid for preliminary approval of the deal.
January 12, 2021
BlackRock must face an Employee Retirement Income Security Act class action accusing it of costing workers and retirees millions in unreasonable 401(k) plan fees and bad investment decisions, after a California federal judge on Tuesday shot down the company's bid to win the suit ahead of a scheduled March 1 trial.
September 06, 2019
A California judge expressed reservations Friday about certifying an Employee Retirement Income Security Act class of plan participants who claim BlackRock charged unreasonable fees, costing them over $100 million, saying the case is a "thicket" of argument and the participants' theory is "clever," but it may go too far.
September 03, 2019
A California judge on Tuesday refused to toss a proposed Employee Retirement Income Security Act class action claiming BlackRock Inc. improperly filled its workers' retirement plan with poorly performing company-affiliated funds and cost plan participants more than $100 million, but agreed to slightly narrow the scope of the case.
June 04, 2019
Employees of BlackRock Inc. urged a California federal judge on Monday to allow them to proceed as two classes in their lawsuit alleging the investment firm violated the Employee Retirement Income Security Act and cost retirement plan participants more than $100 million.
March 14, 2019
The BlackRock Retirement Savings Plan board urged a California federal judge Thursday to toss most of a putative class action accusing it of violating the Employee Retirement Income Security Act and costing participants over $100 million, arguing the board operated within the terms of its contracts.