Fiduciary Duty, Fidelity Investments

Every Little Thing … Considerations Before Adding Crypto to a 401(k) Plan

Holland & Hart - The Benefits Dial on 5/12/2022

Fidelity Investments recently announced that it will offer its 401(k) plan clients the opportunity to offer bitcoin as a 401(k) plan investment option later this year. While this may sound intriguing to some plan fiduciaries...more

Fidelity settles lawsuit for $28.5 million

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on 7/30/2020

Fidelity Investments settled a class-action lawsuit regarding its own 401(k) plan for $28.5 million. The class-action case alleged that Fidelity breached its fiduciary responsibility to plan participants by including its...more

Advisors Advantage - February 2018

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on 2/5/2018

A Call For A New Standard For Financial Advisors. A higher standrad for today. Over the last 10 years, there has certainly been a revolution among 401(k) financial advisors about the need and concern of good fiduciary...more

First Circuit Dismisses Claim That Fidelity Violated Its Fiduciary Duties By Retaining Float

King & Spalding on 11/2/2016

In July, the Court of Appeals for the First Circuit rejected a claim that Fidelity breached its fiduciary duties by retaining “float” earned while Fidelity was handling 401(k) plan distributions. (Float is interest earned in...more

ERISA Litigation Newsletter - July 2016

Proskauer Rose LLP on 8/1/2016

Editor's Overview - This month we take a look at the plaintiffs' past successes in fee litigations, and the influx of such lawsuits seeking to impose heightened fiduciary standards for 401(k) plans. Regardless of the...more

Fidelity Prevails In ERISA Float Litigation

Proskauer - Employee Benefits & Executive... on 7/29/2016

The First Circuit joined the Eighth Circuit in finding that Fidelity’s practice of earning overnight “float” interest on the cash paid out to 401(k) participants redeeming shares in mutual funds did not violate ERISA’s duty...more