Workers holding Principal Global Investors target date funds in their 401(k) accounts asked a federal judge in Iowa for class status in their suit claiming the funds improperly paid high fees to Principal.
The proposed class consists of “hundreds of thousands” of 401(k) investors who held Principal LifeTime Hybrid Collective Investment Funds since 2012, according to the Oct. 2 motion for class certification. The investors submitted the documents supporting their class certification bid confidentially under an agreement with Principal to keep certain information private.
The lawsuit, filed on behalf of investors in about 9,000 retirement plans that contract with ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.