By Rachel Stone (September 29, 2021, 6:10 PM EDT) -- A California federal court threw out an ERISA class action lodged against AT&T Inc. by nearly 250,000 retirement plan members who claimed the telecommunications giant burdened its $35 billion retirement plan with excessive fees, finding the company proved it monitored the plan expenses.
U.S. District Judge Virginia A. Phillips on Tuesday granted AT&T a full summary judgment win on the 401(k) class' Employee Retirement Income Security Act claims, while simultaneously rejecting the workers' attempt at partial summary judgment relief.
Judge Phillips sided with AT&T and dismissed allegations that the company flouted its fiduciary duties under ERISA by not monitoring its administrative...
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