Ex-Deloitte Workers Come Up Short in Retirement Plan Fee Lawsuit

A lawsuit accusing Deloitte LLP of mismanaging a pair of retirement plans that together hold more than $14 billion fell flat Friday, when a federal judge dismissed some claims for lack of standing and others for resting on faulty comparisons.

Judge John G. Koeltl dismissed all claims involving Deloitte’s profit sharing plan, reasoning that none of the named plaintiffs alleged that they participated in this plan. He likewise dismissed claims involving four of the six challenged investment funds, because none of the plaintiffs claimed to have invested in these funds.

Many courts have grappled with whether participants in a retirement ...