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Chevron Again Defeats Lawsuit Over Its $19 Billion 401(k)
Bloomberg BNA June 2, 2017
"The participants didn't allege in their amended complaint facts sufficient to raise a plausible inference that Chevron took any action for the purpose of benefiting itself or Vanguard Group Inc. at the expense of the plan participants or that it acted under conflict of interest, Judge Phyllis J. Hamilton said in dismissing the amended lawsuit.... In addition, the participants' allegations of unreasonable record-keeping fees charged until March 2012 were based on 'little more than guesses' and were either 'invalid or relatively incomprehensible,' Hamilton said." [White v. Chevron Corp., No. 16-793 (N.D. Cal. May 31, 2017)]
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