American Century Must Produce Fund Reports in 401(k) Suit

American Century Services LLC must turn over certain performance, expense, and profitability reports to the employees who filed a lawsuit challenging the affiliated mutual funds in the company’s 401(k) plan (Wildman v. Am. Century Servs., LLC, W.D. Mo., No. 4:16-cv-00737, order granting motion to compel 7/27/17).

A federal judge on July 27 granted the employees’ request for discovery, finding that the reports they sought were relevant, proportional to the needs of the case, and not unduly burdensome to produce. The employees asked for copies of what are known as 15(c) reports—reports on a mutual fund’s performance, expense, and ...