"The proposed class action suggests that John Hancock breached its fiduciary duties 'by applying an imprudent and inappropriate preference for John Hancock products within the plan, despite their poor performance, high costs and lack of traction among fiduciaries of similarly-sized plans.' In addition, the self-dealing lawsuit suggests the firm failed to monitor or control the plan's administrative expenses, allegedly costing the plan millions of dollars in excessive administrative fees over the course of the class period." [Baker v. John Hancock Life Ins. Co., No. 20-10397 (D. Mass. complaint filed Feb. 27, 2020)]  MORE >>