In the Margins

401(k) participants sue Fidelity, claiming fiduciary breaches

May 31, 2016

By InvestmentNews

Participants in a Delta Air Lines Inc. 401(k) plan have sued units of Fidelity Investments, alleging fiduciary breaches in Fidelity's recordkeeping role. The case, Fleming et al. vs. Fidelity Management Trust Co. et al., was filed May 20 in the U.S. District Court in Boston. The participants allege that Fidelity “wanted a piece of the action” when Financial Engines was hired to provide investment advice for the Delta Family-Care Savings Plan, according to the complaint. Read the original story from InvestmentNews.