October 11, 2018 / 9:25 PM / 6 days ago

Fidelity sued over management of employees' 401(k) plan

Employees of Boston-based Fidelity have sued the financial services giant alleging that it loaded their $15 billion retirement plan with the company’s own mutual funds, saddling it with excessive fees and poor returns.

Filed on Wednesday in Boston federal court, the proposed class action said Fidelity’s alleged mismanagement cost participants in the 401(k) plan more than $100 million a year in returns, compared to returns of comparable plans.

To read the full story on WestlawNext Practitioner Insights, click here: bit.ly/2PuBlST

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