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District Court Certifies a Class of 24,000 Plan Trustees in the Haddock v. Nationwide Revenue Sharing Litigation
Proskauer Rose 
[Guidance Overview] Dec. 4, 2009 Excerpt: Plaintiffs contend that Nationwide used its aggregation of plan investments to extract revenue sharing payments from mutual funds in exchange for investing the plan assets with those mutual funds. According to plaintiffs, Nationwide was a plan fiduciary because, even though the plan trustees selected the funds to offer in each plan, Nationwide acted as a gatekeeper in fund selection by determining the pool of mutual funds from which the plan trustees could select. MORE >> |
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