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BlackRock Accused of Self-Dealing with 401(k) Plan
Bloomberg BNA Link to more items from this source
Apr. 7, 2017
"The proposed class action ... alleges that participants in the 401(k) plan were subjected to higher hidden fees through excessive fund layering, where one BlackRock fund invested in a 'rabbit hole' of other BlackRock funds.... [T]he lawsuit ... alleges that the fees plus the poorly performing funds have caused participants to lose $60 million in retirement savings. The plan has more than 9,700 participants."

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