IQVIA 401(k) Investors Advance Suit Over Fees, Target Date Funds

IQVIA Inc. must defend a proposed class action challenging various aspects of the health care researcher’s $1.6 billion 401(k) plan, including a suite of actively managed target date funds from Fidelity, a North Carolina federal judge ruled Tuesday.

Judge William L. Osteen Jr. of the U.S. District Court for the Middle District of North Carolina greenlighted all claims raised in the Employee Retirement Income Security Act lawsuit. Osteen cited recent rulings allowing similar ERISA cases to advance against Coca-Cola Consolidated Inc. and MedStar Health Inc.

The lawsuit, filed in 2020 by six former employees of the companies previously known as ...