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Fidelity, Putnam Lose Early Bids to Dismiss ERISA Lawsuits
Bloomberg BNA 
Apr. 11, 2016
"In an unusual move, a federal judge in the U.S. District Court for the District of Massachusetts April 7 issued a three-page order allowing two different proposed class actions to survive the companies' motions to dismiss. The judge didn't explain the reasoning behind his decision, other than to say that 'dismissal is often inappropriate' in 'factually complex' lawsuits under [ERISA].... Although both lawsuits involve allegations of excessive plan fees, they use different lines of attack. The Fidelity lawsuit focuses on the investment strategy of the company's stable value fund, and the Putnam lawsuit challenges the use of proprietary funds in Putnam's own 401(k) plan."
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