Caesars Beats 401(k) Fund Claims While Russell Heads to Trial

Participants in Caesars Holdings Inc.'s 401(k) plan can go to trial on claims against Russell Investments Trust Co. saying their plan lost millions when Russell swapped out existing funds for its own affiliated offerings.

There’s a genuine factual dispute as to why Russell chose its own funds for the Caesars plan, Judge Cristina D. Silva said in a Thursday order denying the investment company’s motion for summary judgment. The plan investors produced evidence suggesting that Russell’s arrangement with the gaming and hospitality company was a “special deal” intended to secure additional assets for Russell’s funds, Silva said for the US ...