Russell, Royal Caribbean 401(k) Lawsuit Gets Class Treatment

A former Royal Caribbean Cruises employee scored class status in a lawsuit saying Russell Investments Trust Co. mishandled the company’s $500 million 401(k) plan by switching out well-performing Vanguard funds for its own struggling investments.

Judge Robert N. Scola Jr. on Thursday certified a class covering all Royal Caribbean plan participants between October 2015 and the date Russell was removed as the plan’s investment manager. The plan covered more than 7,000 people during this time, and the case centers on uniform conduct with respect to all class members, said Scola, who sits in the US District Court for the Southern ...