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A U.S. District Court Judge in Boston denied Natixis Investment Managers' to dismiss an ERISA complaint filed by a 401(k) plan participant.
Natixis 401(k) participant charges self-dealing in ERISA suit Print A participant in a 401(k) plan run by Natixis Investment Managers sued the company and plan fiduciaries, alleging ERISA violations including "unlawful self-dealing" in the management of the plan. "Defendants fail to administer the plan in the best interest of participants and fail to employ a prudent process for managing the plan," said the complaint filed Feb. 18 in a U.S. District Court in Boston, seeking class-action status. "Defendants have managed the plan in a manner that benefits Natixis at participants' expense, using...