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Russell et al v. Illinois Tool Works, Inc. et al
Case Number:
1:22-cv-02492
Court:
Nature of Suit:
Multi Party Litigation:
Class Action
Judge:
Firms
Companies
Sectors & Industries:
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February 09, 2026
Tool Co. Can't Escape Workers' 401(k) Forfeiture Suit
An Illinois tool manufacturer lost a bid to toss a proposed class action alleging it mismanaged an employee 401(k) plan, after a federal judge held Monday that workers stated a claim under federal benefits law by asserting the company disloyally spent forfeitures on employer-side contributions instead of plan expenses.
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June 10, 2024
Ill. Tool Maker Must Face Retirement Mismanagement Claims
An Illinois tool manufacturer must answer to accusations that it mishandled billions in employee retirement savings by allowing their plan to take on unreasonable recordkeeping fees and retaining underperforming funds, a federal judge said Monday.