Victoria's Secret Parent Can't Slip 401(k) Fees Suit Just Yet
September 17, 2021
By Hailey Konnath (September 16, 2021, 10:04 PM EDT) -- An Ohio federal judge on Thursday refused to toss a proposed class action accusing the parent company of Victoria's Secret and Bath and Body Works of violating federal benefits law, ruling that a former employee has plausibly alleged that it failed to use its 401(k) plan's size to negotiate lower fees.
U.S. District Judge Edmund A. Sargus Jr. rejected a pair of motions to dismiss from L Brands, holding that, at this juncture, named plaintiff Donna Allison could proceed with her claims that the company should've used the $1.6 billion plan's size to secure more reasonable fees for retirement savers. L...
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