Clean Harbors Sued Over Fees in $813 Million Retirement Plan

Clean Harbors Environmental Services LLC was sued by a former employee who says the waste management company’s retirement plan was plagued by needlessly expensive investments and high-cost stable value funds, according to a federal complaint filed in Boston.

Adam Kruzell seeks to represent a class of 13,000 investors covered by the $813 million retirement plan.

He accuses Clean Harbors of filling the plan with expensive retail share class mutual funds when the same investments were available at lower cost. This forced plan participants to pay 24% more in fees than they would have paid had the plan been prudently managed, ...