CDI to settle ERISA case for $1.8 million
CDI to settle ERISA case for $1.8 million Getty Images/iStockphoto CDI Corp., Philadelphia, agreed to a $1.8 million settlement of a class-action lawsuit against the company alleging it violated its fiduciary duties in the selection of investment options for its 401(k) plan. The suit, filed by two former employees in July 2020 in U.S. District Court in Philadelphia, said the company, its board of directors and its 401(k) savings plan committee violated the Employee Retirement Income Security Act of 1974 by failing to ensure each investment option offered in the plan is prudent, and that fees ...
Source: pionline.com