Greystar Seeks To Ax Suit Challenging 401(k) Plan Fees

Law360 (September 9, 2019, 6:58 PM EDT) -- A unit of real estate management company Greystar Real Estate Partners has asked a Texas federal judge to toss a former employee's proposed class action accusing the company of mismanaging workers' retirement savings, saying an arbitration pact she agreed to dooms her suit.

Greystar Management Services LP on Friday asked the court to dismiss former worker Sonia Torres' Employee Retirement Income Security Act suit, which claimed the company breached its duties to more than 14,900 Greystar 401(k) plan participants and beneficiaries by saddling the plan with high administrative fees.

The company said the suit had to be dismissed because Torres agreed...

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