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Brief on Appeal Filed by Plaintiffs in Tussey v. ABB Case
Plan Tools, LLC Link to more items from this source
May 15, 2013
"The following summary is taken directly from the Plaintiffs' brief: The district court properly found ABB breached its duties by [1] allowing Fidelity to receive excessive recordkeeping compensation through revenue sharing in the amount of $13.4 million.... [2] moving all participant investments from the stellar-performing Wellington Fund into the untested Fidelity Freedom Funds for no prudent and loyal reason and in violation of the IPS.... [3] selecting higher-cost share classes of Plan mutual funds... [4] The district court properly found Fidelity breached its fiduciary duties by earning income from Plan assets as they floated between accounts." [The full text of briefs filed to date can be found at the link.]

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