August 30, 2017 / 10:01 PM / 10 months ago

Judge certifies class in lawsuit over BB&T 401(k) plan

Employees of North Carolina-based BB&T Corp accusing the bank of loading its 401(k) retirement plan with its proprietary mutual funds and collecting millions of dollars in excessive fees can sue as a class, a federal judge ruled.

In a decision on Monday, U.S. District Judge Catherine Eagles in North Carolina’s Middle District rejected BB&T’s argument that the case is not suitable for class treatment because the harm suffered by any worker will depend on the person’s individual investment strategy.

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