Verizon 401(k) lawsuit settles for $30 million
The settlement sends an uncomfortable message to retirement plan advisors and other fiduciaries, an observer says.
Verizon will pay $30 million to settle a 2016 lawsuit over an underperforming hedge fund the plaintiffs alleged the company dragged its feet in removing from its retirement plan.
That large settlement followed the court’s denial of summary judgment earlier this year for the defendants. A trial
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