Case: Retirement Plans/Fiduciary Duties (D. Md.)

An 8,200-person ERISA class action involving participants in T. Rowe Price Group’s $1.7 billion 401(k) plan survived cross motions for summary judgment in the U.S. District Court for the District of Maryland. The plan participants presented sufficient evidence to go to trial on claims the company improperly favored its own investment products, but fact questions remain, and the plan participants’ chances of significant recovery are low based on the evidence so far, the court said. It granted summary judgment to the defendants on the participants’ claim involving imprudent investment advice.