Mass. Suit Accusing Fidelity Of 401(k) Kickback Scheme Axed

A Massachusetts federal judge tossed a proposed class action by a T-Mobile USA Inc. employee who accused the manager of the company’s 401(k)plan, Fidelity, of operating a so-called pay-to-play scheme in violation of the Employee Retirement Income Security Act, with the judge finding the worker couldn’t show the companies acted like fiduciaries…

Read this piece in its entirety at Law360.

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