Health Concerns May Nix Advisory Jury in Fidelity 401(k) Trial

The ongoing Covid-19 health crisis could force a class action challenging Fidelity Investments’ 401(k) plan to be decided by a traditional, judge-only trial, instead of through a rare trial before an advisory jury, according to court papers filed in the District of Massachusetts.

The lawsuit, which accuses Fidelity of filling its $17 billion 401(k) plan “exclusively” with Fidelity-affiliated investments that earned fees for the company, took an unusual turn in 2019, when Judge William G. Young of the U.S. District Court for the District of Massachusetts said he would empanel an advisory jury to hear evidence and give him a ...