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NFP Named as Defendant in Parallel Molina Healthcare ERISA Suit
planadviser; registration may be required 
May 19, 2022 "The original lawsuit targeting Molina Healthcare directly says the defendants caused plan participants to invest in flexPATH's 'untested target-date funds,' which allegedly replaced 'established and well-performing target-date funds' previously offered to participants.... The new lawsuit almost completely mirrors the original compliant, though it is distinct in that it argues that NFP is also a fiduciary to the retirement plan in question, based on the nature of the advice it allegedly provided to the plan sponsor, and it should therefore face the court's scrutiny alongside the Molina defendants." [Mills v. NFP Retirement Inc., No. 22-994 (C.D. Cal complaint filed May 16, 2022)] |
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