July 01, 2024
A New Jersey federal judge threw out a class action brought by retirees accusing a chemical company of stocking its workers' 401(k) plan with underperforming funds, saying the company put forward sufficient details to beat the former employees' allegations that its investment selection process was imprudent.
December 13, 2022
Evonik and two ex-employees told a New Jersey federal court Tuesday that they have agreed to certify a class in the former workers' suit alleging the specialty chemicals company ran afoul of federal benefits law by allowing a bank to pack its 401(k) plan with costly, high-fee investment options.
March 02, 2020
Specialty chemicals company Evonik Corp. allowed a bank to pack its $1 billion retirement plan with investment options that charged exorbitant fees and cost workers millions, two ex-employees are alleging in a proposed class action filed in New Jersey federal court.