Judge Excludes Chamber of Commerce’s View on 401(k) Fee Lawsuits

The Chamber of Commerce hit a roadblock in its attempt to convince courts that 401(k) fee litigation has gone too far, when a Washington, D.C., federal judge rejected the group’s brief in a case against the American National Red Cross.

Amicus briefs filed by outside parties are typically allowed only when a party lacks competent representation or when the outside party has unique information or perspective that will help the court, Judge Emmet G. Sullivan of the U.S. District Court for the District of Columbia said Tuesday. The Chamber failed to show that one of the parties lacks appropriate representation, ...