From Bloomberg Law:
DISH Network Corp. was sued in Colorado federal court by four former employees who say the company’s $841 million 401(k) plan charged excessive administrative fees and offered overly risky and expensive target date funds from Fidelity.
Laquita Jones’ lawsuit is the latest proposed class action targeting an employer’s decision to offer Fidelity’s actively managed Freedom Funds in its retirement plan. The lawsuits, which are pending against MedStar Health Inc., Prime Healthcare Services Inc., Boston Children’s Hospital, and others, claim these Fidelity Freedom Funds are unnecessarily risky and significantly more expensive than other Fidelity target date funds, which …
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