Ex-Stantec Workers Seek 401(k) Fee Class of More than 10,000

A lawsuit claiming Stantec Consulting Services Inc. fills its 401(k) plan with pricey funds and charges excessive fees covers a proposed class of at least 10,639 people, former employees of the architecture and engineering firm told a Phoenix federal court.

Former Stantec workers Samantha Gotta and Michael De Sena moved to certify a class of all participants and beneficiaries in the Stantec 401(k) plan since September 2014, excluding the company defendants and their family members. The ERISA fiduciary breach claims raised in this lawsuit are the “paradigmatic example” of claims that should be certified for class treatment, according to the ...