June 12, 2019 / 9:39 PM / 3 days ago

Judge greenlights nationwide class suing over JPMorgan's 401(k) fees

Five former JPMorgan’s employees accusing the bank of loading its employee 401(k) retirement plan with funds that had excessive fees can pursue their lawsuit against the bank on behalf of a nationwide class, a federal judge in Manhattan ruled.

In a decision on Tuesday, U.S. District Judge Jesse Furman said the employees’ claims involve a common question that can be resolved for plan participants as a group, namely whether JPMorgan breached its duties to the class by putting funds with unreasonably high fees in the plan. Furman also named Kessler Topaz Meltzer & Check as class counsel.

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