April 01, 2021
A Michigan federal judge refused to throw out a lawsuit from workers who said an auto parts supplier saddled their $1 billion retirement plan with excessive fees, ruling the former employees' claims were strong enough to stay in court.
January 21, 2021
A Michigan federal judge should follow a Colorado court's lead and toss a proposed 401(k) class action against Magna after the auto parts supplier's employees accused it of including too-expensive investment options into their $1 billion retirement plan, the company said.
May 01, 2020
A group of former Magna International of America Inc. employees have accused the automotive parts supplier of mismanaging their more than $1 billion retirement plan by allowing it to be loaded with high-fee funds managed by the plan's own trustee.