Sutherland Global 401(k) Plan Fee Lawsuit Denied Class Status

Participants in the Sutherland Global Services Inc. 401(k) lost their bid for class certification in a lawsuit challenging the plan’s fees and investment options.

The proposed class members don’t share a common injury that would give them standing to pursue their claims as a class, the US District Court for the Western District of New York ruled Wednesday. The injury asserted by the lawsuit—payment of a $50 fee for retirement plan withdrawals and distributions—doesn’t appear to have been paid by all proposed class members and may not have been paid by one of the named plaintiffs, the court said in ...