In the Margins

Fidelity, Putnam excessive fee cases to move forward

April 13, 2016

By PlanSponsor

A U.S. District judge for the District of Massachusetts has denied motions to dismiss excessive fee lawsuits against Fidelity Management Trust and Putnam Investments. The combined order said that in factually complex Employee Retirement Income Security Act cases such as the ones against Fidelity and Putnam, dismissal is often inappropriate. “At the current stage of litigation, when the court must draw all reasonable inferences in favor of the non-moving party, the plaintiffs’ complaints in these two actions allege facts sufficient to state plausible claims,” the judge said. Read the original story from PlanSponsor.



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