Pension funds sue Wells Fargo, alleging executives breached fiduciary duties

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Pension funds sue Wells Fargo, alleging executives breached fiduciary duties Ned Weinberger comments on Citi case alleging breach of fiduciary duty. The Oklahoma Firefighters Pension and Retirement System, Key West Municipal Firefighters and police officers’ retirement trust fund and Wells Fargo financial advisor filed a lawsuit recently.

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Wells Fargo employees sue over funds in retirement plans. The lawsuit, filed by employees led by John Meiners, from St. Louis, seeks to recoup excess fees and unrealized profits stemming from Wells Fargo’s alleged breach of fiduciary duties to all 401(k) participants over the last six years, the complaint said.

Chattanooga (Tenn.) Fire and Police Pension Fund has filed a lawsuit in Tennessee court against Wells Fargo, its custodian and trustee, alleging potential fraud and overcharging in its role as.

Wells Fargo will pay $62.5 million to settle suit over securities lending. The 30 ERISA plaintiffs were allowed to bring only one claim, which was breach of fiduciary duty. The 62 non-ERISA plaintiffs brought three claims: breach of fiduciary duty, breach of contract and violations of the Minnesota Consumer Fraud Act.

Institutional Retirement and Trust Breaching fiduciary duties can cost you It is critically important to understand the fees and expenses of your retirement plan and to follow a deliberate process in determining whether these fees and expenses are reasonable. As a plan sponsor, you face a broad range of key fiduciary issues

Pension funds sue Wells Fargo, alleging executives breached fiduciary duties Pension funds sue Wells Fargo, alleging executives breached fiduciary duties wells fargo cfo: Repurchase risk only applies to half its private mbs mortgage trustees seek .5b jpmorgan settlement. of law regarding fiduciary obligations in a limited liability company ("LLC")..

Target date Funds Focus of Wells Fargo 401k Suit. Wells Fargo faces a new lawsuit claiming 401k self-dealing on the part of $3 billion of employee retirement savings. plaintiffs allege the company funneled 401k plan assets into "expensive, under-performing" proprietary target date funds to enrich itself. Reuters reports.

Pension Funds from Informed Financial Planning (IFP) Frankly, as a general matter, judges tend to know little about retirement. breach of fiduciary duty. Specifically, the 8th U.S. Circuit Court of Appeals said the plaintiff did not plead facts.