UniFirst Retirement Plan Fund Performance Drives New Lawsuit

Three participants in UniFirst Corp.'s retirement plan filed a proposed class action challenging the performance of an actively managed growth fund included in the plan’s investment lineup.

The lawsuit, filed Tuesday in the US District Court for the District of Massachusetts, centers on a fund from non-party T. Rowe Price that invests in large companies that are projected to grow quickly. This fund consistently underperformed its benchmark and similar funds from other companies for more than a decade, driving tens of millions of dollars in lost retirement savings, the participants said in their complaint.

• The plaintiffs bring claims under ...