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Massive Settlement Struck in 401(k) Excessive Fee Suit
American Retirement Association [ARA] 
Aug. 24, 2020 "In a remarkably short period, an excessive fee suit involving proprietary funds has settled for what may be the largest monetary settlement among those cases to date.... [U]nder the terms of the proposed Settlement, McKinsey (and/or its insurers) will pay a Gross Settlement Amount of $39,500,000 into a common fund for some 33,000 current and former participants." [Bhatia v. McKinsey & Company, Inc., No. 19-1466 (S.D.N.Y. proposed settlement filed Aug. 10, 2020)] MORE >> |
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