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Payne v. Hormel Foods Corp. et al
Case Number:
0:24-cv-00545
Court:
Nature of Suit:
Multi Party Litigation:
Class Action
Judge:
Firms
Companies
Sectors & Industries:
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September 19, 2024
Hormel Foods Can't Beat Retirement Fund Management Suit
Hormel Foods Corp. can't avoid a proposed class action claiming it failed to remove high-cost investment options with poor return rates from its $1.2 billion retirement plans, with a Minnesota federal judge ruling the worker leading the suit identified suitably comparable funds that performed better.
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February 22, 2024
Hormel Foods Accused Of Mismanaging Retirement Funds
A Hormel Foods Corp. benefit plan participant filed a proposed class action against the company in Minnesota federal court, alleging it shirked its duty under federal benefits law by failing to trim high-cost investment funds with poor crediting rates from its $1.2 billion retirement funds.