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...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!
