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District Court Rules in Favor of Fidelity in Revenue Sharing Fee Litigation
Thomson Reuters Practical Law
Feb. 24, 2020 "[The court] granted Fidelity's motion to dismiss in litigation brought by 401(k) plan participants alleging that Fidelity breached its fiduciary duty to their respective plans and engaged in prohibited transactions under ERISA by charging mutual funds 'infrastructure fees' for access to Fidelity's FundsNetwork investment platform, which then passed those costs to the plans[.]" [In re Fidelity ERISA Fee Litigation, No. 19-10335 (D. Mass. Feb. 14, 2020)] MORE >> |
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