Land O’Lakes Still Facing 401(k) Fee Suit After Claims Trimmed

Land O’Lakes Inc. employees who sued the company over its $1.4 billion 401(k) plan are moving forward with key claims in their proposed class action, but certain challenges to plan investment options aren’t viable, a Minnesota federal judge ruled Tuesday.

Land O’Lakes plan participants Craig Parmer and Mark Laurance can proceed with their attempt to hold plan fiduciaries liable for failing to investigate and choose cheaper institutional share classes of the plan’s investment funds, Judge David S. Doty of the U.S. District Court for the District of Minnesota held. But their claims that plan fiduciaries should have looked into collective ...