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New York Life Sued by Employees Claiming Excessive 401(k) Fees

New York Life Insurance Co. is the newest member to the ever-growing list of asset managers and retirement plan providers being sued by their employees for fiduciary breach in the company 401(k) plan. Current participants in two New York Life 401(k) plans filed a class-action lawsuit — Andrus et al v. New York Life Insurance Company et al — alleging self-dealing by the firm and other affiliated …


Supreme Court Says Class Action Lawsuits Can Survive Compensation Offers

The Supreme Court ruled on a company’s effort to end a class action lawsuit with a payoff to one plaintiff. (Photo: USA TODAY) 572 CONNECTTWEET99 LINKEDINCOMMENTEMAILMORE WASHINGTON — The Supreme Court dealt a rare setback Wednesday to companies trying to avoid potentially expensive class-action lawsuits. The justices ruled that offers of full compensation to the lead plaintiff in such a case …