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When Identical Investments and Fees Yield Different Judicial Results
Encore Fiduciary Link to more items from this source
Feb. 28, 2023

"Two federal courts faced with identical investment and fee arrangements reach different results as to whether an excess fee share class claim is plausible. The difference is that the Utah court allowed the plan sponsor to rebut false fee claims with the recordkeeping contract and participant account statements showing revenue sharing rebates, whereas the Minnesota court allowed the same false claims to proceed to discovery." [Matney v. Barrick Gold of N. Am., Inc., No. 20-275 (D. Utah Apr. 21, 2022; recon. denied Jun. 21, 2022; on appeal to 10th Cir. No. 22-4045); Schave v. CentraCare Health System, No. 22-1555 (D. Minn. Jan. 27, 2023)]

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