Sutherland Global 401(k) Investors Seek Class Status in Fee Suit

Participants in the Sutherland Global Services Inc. 401(k) plan requested class status in their lawsuit challenging the plan’s fees and investment options.

The proposed class covers all the Sutherland 401(k) plan’s participants since November 2013, with defendants and plan fiduciaries excluded. The plan included more than 12,000 people at certain points during this time period, according to a class certification motion filed Nov. 22 in the US District Court for the Western District of New York.

The lawsuit says Sutherland, a technology consulting company based in Pittsford, N.Y., filled its $57 million 401(k) plan with expensive and poorly performing investment ...