Bloomberg Law
Sept. 9, 2019, 2:49 PM

Fidelity, Employees Seek Pre-Trial Win in 401(k) Class Action

Jacklyn Wille
Jacklyn Wille

A class action targeting the affiliated mutual funds in Fidelity Investments’ 401(k) plan is barreling toward resolution, with both sides asking a federal judge in Boston to resolve certain claims before trial.

FMR LLC, Fidelity’s parent company, said the case is entirely blocked by a $12 million class settlement the company negotiated in 2014.

The thousands of plan participants—who received class status in May—say Fidelity already admitted that it failed to monitor the plan’s record-keeping fees or its approximately 200 affiliated mutual funds. The only thing left to decide with respect to these claims is how much Fidelity should ...