Adidas 401(k) Fee Challenge Should Get Boot, Magistrate Says

August 27, 2021

A lawsuit challenging the fees in Adidas America Inc.'s 401(k) plan hit a speed bump when a federal magistrate judge in Oregon recommended the case be dismissed in its entirety for failing to allege problems with the company’s fiduciary process.

The Adidas plan participants fail to show how the company’s process for managing their retirement plan led them to pay higher fees or receive suboptimal investment returns, Magistrate Judge Youlee Yim You of the U.S. District Court for the District of Oregon said Thursday. The case should be dismissed, You said, because the complaint doesn’t go beyond the allegations rejected ...