Broadridge Unit Ignored Discovery Order, Energy Co. Says

By Clark Mindock (January 14, 2022, 9:11 PM EST) -- A subsidiary of financial technology company Broadridge Financial Solutions is violating court-ordered discovery and federal law by refusing to disclose information related to the fees it collected while handling retirement assets, a proposed class told a Texas federal court.

The proposed class led by Minnesota energy management company MBA Engineering Inc. and its president, Craig Meidinger, said the retirement plan custodian Matrix Trust Co. had failed to comply with the November 2021 discovery order and that doing so has been a major roadblock to continuing with the suit.

The proposed class said the roughly 60,000-plus customers who had a pooled $126...

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