Autozone 401(k), Goalmaker Platform Challenge Gets Class Status

A federal lawsuit accusing Autozone Inc. of mismanaging its 401(k) plan by allowing Prudential’s GoalMaker investment allocation service to steer money toward high-cost funds is now a certified class action covering tens of thousands of people.

Judge Mark S. Norris on Wednesday adopted a magistrate judge’s report recommending that the Employee Retirement Income Security Act lawsuit receive class status. The class includes nearly all AutoZone plan participants since 2013 who invested their retirement accounts in funds offered through the GoalMaker platform from Prudential Retirement Insurance & Annuity Co.

Autozone argued the class should be narrowed to exclude plan participants who ...