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Fidelity Faces ERISA Lawsuit Over 401(k) Brokerage Window
Bloomberg BNA 
May 24, 2016
"According to the complaint, filed May 20, Fidelity selected mutual funds with higher expense ratios for the plan brokerage window that allowed the investment firm to rake 'significant amounts' in revenue-sharing payments in violation of [ERISA] ... The lawsuit was filed ... by participants in the Delta Air Lines Inc. retirement plan. According to the complaint, as of 2014 the plan had approximately $7.5 billion in assets, of which more than $2.8 billion where invested through Fidelity's brokerage window[.]"
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