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McKinsey to Pay $39.5 Million to Settle ERISA Case
Pensions & Investments 
Aug. 13, 2020 "McKinsey & Co. agreed to pay $39.5 million to settle a complaint that the company and an affiliate violated ERISA rules against self-dealing in the management of two company retirement plans.... McKinsey will retain an independent third party for at least three years 'to review the plans' investment options and review all expense reimbursements to McKinsey, MIO, or any other affiliated person or entity,' said the proposed settlement document[.]" [Bhatia v. McKinsey & Company, Inc., No. 19-1466 (S.D.N.Y. proposed settlement filed Aug. 10, 2020)] MORE >> |
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