Shell Oil Retirement Plan Fee Class Action Advances Toward Trial

Former employees accusing Shell Oil Co. of mismanaging their 401(k) plan by overpaying for administrative services and taking fees from plan assets are heading toward trial as a certified class.

Judge Jeffrey V. Brown of the US District Court for the Southern District of Texas on Monday adopted a pair of recommendations from a federal magistrate judge who said the case should be certified as a class action and that Shell should have to face trial on the remaining claims leveled against it. The class covers more than 10,000 participants in the oil and gas company’s 401(k) plan since January ...