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Molla v. Gerdau Ameristeel, US, Inc. et al
Case Number:
8:22-cv-02094
Court:
Nature of Suit:
Multi Party Litigation:
Class Action
Judge:
Firms
Companies
Sectors & Industries:
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February 20, 2025
Steel Co. Reaches $1.5M Deal In 401(k) Mismanagement Suit
A steel manufacturer has agreed to pay $1.5 million to shutter a class action in Florida federal court claiming it failed to trim high-cost investment funds from its $655 million retirement plan while also neglecting to tamp down on pricey management fees.
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February 06, 2025
Steel Co., Ex-Worker To Settle 401(k) Mismanagement Suit
A steel manufacturer agreed to settle a proposed class action claiming it loaded its 401(k) plan with unreasonable fees and risky investment options, the worker leading the suit told a Florida federal court.
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January 27, 2025
Steel Company's ERISA Suit Booted For Lack Of Specifics
A Florida federal judge dismissed a proposed class action alleging a steel manufacturer loaded its employee 401(k) plan with exorbitant fees and risky investment options, ruling the worker leading the suit needed to provide more information about his efforts to raise concerns to the plan's committee.
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July 19, 2024
Less Strict Standard Should Apply In 401(k) Suit, Judge Says
A Florida magistrate judge advised rejecting a steel manufacturer's bid to apply a tougher standard to a plan participant's proposed class action accusing the company of saddling its 401(k) with pricey investment funds and fees, saying that standard doesn't fit the bill in this case.
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July 02, 2024
Steel Co. Escapes 401(k) Mismanagement Suit, For Now
A Florida federal judge tossed a suit claiming a steel manufacturer saddled its $655 million retirement plan with pricey investment funds and fees, ruling Tuesday the plan participant behind the claims needed to formally show the court that he brought his concerns to the plan's committee before filing suit.
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December 08, 2023
Steelmaker Says 401(k) Mismanagement Suit Not Ripe
A steel manufacturer urged a Florida federal court to throw out a proposed class action, saying a plan participant who brought the lawsuit failed to take his claims accusing the company of mismanaging its 401(k) plan through the required administrative process before lodging his complaint.
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September 09, 2022
Steelmaker Faces ERISA Suit Over 401(k) Management
A steel manufacturer allowed its 401(k) plan to be charged exorbitant fees and invest in poorly performing funds, in violation of the Employee Retirement Income Security Act, said a proposed class action suit filed Friday.