Cumulus Media Says Time Limit Spells Doom For 401(k) Suit
Law360 (May 29, 2020, 4:08 PM EDT) -- Cumulus Media wants to dismantle a proposed class action claiming it loaded its 401(k) plan with expensive investment choices and didn't rein in recordkeeping costs, arguing that most of the misconduct alleged by the ex-workers behind the suit is too old to sue over.
The broadcast radio company filed a dismissal bid Thursday in an Employee Retirement Income Security Act lawsuit launched in February in Georgia federal court by former employees Cara Chiappa and Dan Alfonso.
While the ex-workers sought to represent a class of Cumulus Media 401(k) plan participants and beneficiaries in the past six years, the company said the plaintiffs...
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