Janus Henderson In-House 401(k) Fund Lawsuit Advances After Trim

Janus Henderson US Holdings Inc. employees advanced key claims in their proposed class action saying the asset manager filled their 401(k) plan with expensive and poorly performing in-house funds.

The workers can move forward with Employee Retirement Income Security Act claims challenging Janus’s alleged failure to properly monitor and remove these in-house funds, Judge Raymond P. Moore of the US District Court for the District of Colorado said Monday. Janus can’t insulate itself from liability with respect to these funds by including language in its 401(k) plan document mandating that they be offered, Moore said.

“ERISA’s statutory duties override the ...