Goldman Sachs 401(k) Self-Dealing Suit Certified as Class Action

A lawsuit accusing Goldman Sachs Group Inc. of filling its employees’ $7.5 billion 401(k) plan with expensive, affiliated mutual funds will move forward as a certified class action, according to a Manhattan federal court order filed under seal.

Judge Edgardo Ramos granted the plan participants’ motion for class certification, subject to certain conditions not yet made public, in a sealed order docketed Monday. Ramos instructed the parties to submit proposed redactions before the order is made publicly available in the U.S. District Court for the Southern District of New York.

The motion for class certification, filed in April 2021 ...