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Wells Fargo Scores Rare Win in 401(k) Fee Litigation Series
Bloomberg BNA 
May 30, 2017
"The allegations of high fees and poor performance failed, a federal judge ruled ... because the investors didn't provide a meaningful benchmark for comparing the Wells Fargo funds. The investors pointed to lower-fee funds offered by Vanguard, but the judge rejected this comparison after finding that the Vanguard funds had a different investment strategy than the Wells Fargo target-date funds. The judge also said Wells Fargo can't be held liable for 'failing to choose the cheapest fund.' " [Meiners v. Wells Fargo & Co., No. 16-3981 (D. Minn. May 25, 2017]
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