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Stadion Faces Potential ERISA Class of ‘Hundreds of Thousands’

Nov. 24, 2020, 3:57 PM

A retirement plan investor who accused Stadion Money Management LLC and United of Omaha of steering 401(k) assets toward expensive affiliated funds asked a Nebraska federal judge to certify her case as a class action covering “hundreds of thousands” of people.

Kimberly Davis’ class certification motion, filed Monday in the U.S. District Court for the District of Nebraska, comes eight months after Senior Judge Joseph F. Bataillon allowed her to move forward with the entirety of her four-count complaint, which sought to hold the companies liable under the Employee Retirement Income Security Act for breaches of fiduciary duty and prohibited...

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