A team of California and Texas law firms overcame a challenge to a certified class action against fiduciaries for about 300,000 participants in retirement, health and fringe benefits plans.
The class action seeks to disgorge Fringe Benefit Group companies of “ill-gotten profits” realized through excessive fees charges against employees that contributed to the plans through their employer, according to the opinion authored by Circuit Judge Carl E. Stewart of the U.S. Court of Appeals for the Fifth Circuit.
