Ex-Goldman Sachs Worker Wants Class Cert. In 401(k) Suit

May 4, 2021
Law360 (May 3, 2021, 9:30 PM EDT) -- A former Goldman Sachs worker who accused the company of stuffing its employee retirement plan with underperforming company-managed investment funds has asked a New York federal court to certify a proposed class of plan participants.

Former Goldman information technology worker Leonid Falberg said in a Friday memorandum that the proposed class satisfies the criteria for numerosity, commonality, typicality and adequacy of representation. The proposed class consists of participants and beneficiaries of the Goldman Sachs 401(k) plan whose plan account held any Goldman Sachs mutual fund since Oct. 25, 2013, excluding money market funds.

Falberg pointed to the cases of Moreno v....

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