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Fidelity Wins Dismissal of ERISA Lawsuit Over 'Infrastructure Fees'
Mercer 
Mar. 19, 2020 "Fidelity has won a dismissal of a class action brought by 401(k) plan participants over 'infrastructure fees' charged to third-party mutual funds on the company's investment platform. The plaintiffs alleged the company's imposition of the fees violates ERISA's fiduciary-duty rules. But the court dismissed all claims after finding Fidelity didn't act in a fiduciary capacity when setting the fees." [In re Fidelity ERISA Fee Litigation, No. 19-10335 (D. Mass. Feb. 14, 2020)] |
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