"While not the smallest to face an excessive fee lawsuit in recent years, Biogen's defined contribution plan held less than $1 billion at the start of the proposed class period.... The plaintiffs ... say the defendants did not try to use the plan's bargaining power to reduce expenses. They also suggest plan fiduciaries failed to exercise appropriate judgment to scrutinize each investment option that was offered in the plan, to ensure it was prudent in terms of cost and performance." [Covington v. Biogen Inc., No. 20-11325 (D. Mass. complaint filed Jul. 14, 2020)]  MORE >>