Browsing Tag
401(k) Litigation
249 posts
Advisor Uses Underwater ‘Sea Scooter’ to Avoid Ponzi Scheme Arrest
A California financial advisor wanted for his role in an alleged $35 million Ponzi scheme went to extreme…
Abbott Defendants Dismissed from 401k Cybertheft Lawsuit—For Now
I previously wrote about a lawsuit filed against Abbott Labs and recordkeeper Alight by a participant whose account…
Schlichter Hit for $1.5 Million for ‘Reckless’ Fiduciary Claims
Correction: The allegations against Great West Capital Management were not for an ERISA breach, rather a violation of…
Schlichter Targets Pentegra MEP in Latest Excessive 401k Fee Lawsuit
A lawsuit was filed earlier this week in U.S. District Court in New York City against Pentegra Retirement…
2020 on Track for Fivefold Increase in 401(k) Lawsuits
According to a new analysis from Bloomberg Law, proposed class action lawsuits claiming excessive 401k plan fees are…
401(k) Compliance Executive to Plead Guilty in College Admissions Scandal
Maybe ‘compliance’ doesn’t mean what he thinks. An insurance and private equity executive has agreed to plead guilty…
How to Avoid COVID 401k-Related Lawsuits
The COVID-19 pandemic has brought about a staggering number of changes for employers in the past few months,…
VALIC to Pay $40 Million to Settle Charges It Deceived Teachers
The Securities and Exchange Commission charged VALIC Financial Advisors (VFA) for failing to disclose to teachers and other…
Police Union Officials Accused of Retirement Plan Theft
It hurts more when done by those sworn to protect. Former state trooper Kenneth Wynder Jr., president of…
The Worst 401(k) Plan in America
Recently, one of my 401(k) plan clients for whom I serve as a fiduciary advisor was audited by…