Law360 (August 22, 2019, 3:33 PM EDT) — Every other day, we read about another plaintiff who has filed another lawsuit against another company alleging that the sponsor of the company’s retirement plan breached its fiduciary duties in administering the plan. These lawsuits generally allege similar concerns — inappropriate investments within the plan, excessive fees paid to service providers, acts of self-dealing and conflicts of interest. Settlement amounts read like lottery jackpots — Franklin Resources $13.85 million,[1] American Airlines $22 million,[2] among others — and that is not counting attorney fees for both plaintiffs and defendants.
In the recent case against Franklin Resources, the plaintiffs alleged that Franklin Resources…
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