Natixis In-House 401(k) Investment Lawsuit Inches Toward Trial

A class action challenging Natixis Investment Managers LP’s decision to put in-house mutual fund in its employees’ 401(k) plan should go to trial on most claims, a federal magistrate judge recommended.

The defendants are entitled to a pre-trial victory on only two pending issues, Magistrate Judge Paul G. Levenson said Wednesday in a 67-page nonbinding report. The bulk of the case should proceed to trial, he said, greenlighting claims over Natixis’ fiduciary processes, certain funds offered by its retirement plan, and the plan’s allegedly excessive management fees.

The lawsuit was filed in 2021 by Brian Waldner, a former vice ...