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$35.2 Million Joint and Several Liability on Fiduciaries In Case of Excessive Fees and Imprudent Investments
Haynes and Boone, LLP Link to more items from this source
[Guidance Overview]
Apr. 15, 2012
"The U.S. Federal District Court for the Western District of Missouri determined that plan fiduciaries breached their fiduciary duties by failing to monitor recordkeeping costs, negotiate rebates, and prudently select and retain investment options. This is a federal district court decision and it differs from positions taken by some federal circuit courts which are precedential, but whether this decision is judicial activism or a new trend will need to play out over time."

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