Natixis In-House 401(k) Investment Class Action Headed for Trial

A class action targeting the in-house mutual funds in Natixis Investment Mangers LP’s retirement plan will move toward trial on most claims after a federal judge agreed with a magistrate report recommending that the case advance.

Judge Leo T. Sorokin on Tuesday overruled all objections to the August 21 magistrate report greenlighting claims over Natixis’ fiduciary processes, certain funds offered by its retirement plan, and the plan’s allegedly excessive management fees. In particular, Sorokin agreed with the magistrate judge’s analysis of fund comparisons and his rejection of poorly-supported claims targeting a single international fund offered by the plan.

The lawsuit ...