Common use of What Is The Class Action About Clause in Contracts

What Is The Class Action About. In the Class Action, the Class Representative claims that Defendants failed to prudently and loyally manage the Plans’ investment lineup in the best interests of participants and beneficiaries, gave an improper preference to investment options managed by companies affiliated with the Plans’ sponsor, McKinsey, and failed to monitor the Plans’ recordkeeping expenses. The Defendants deny all claims and assert that they have always acted prudently and in the best interests of participants and beneficiaries. Defendants believe that the Plans’ investment options performed well, and that the Plans’ fees were reasonable and appropriate.

What Is The Class Action About. In the Class Action, the Class Representative claims that Defendants failed to prudently and loyally manage the Plans’ investment lineup in the best interests interest of participants and beneficiaries, gave an improper preference to investment options managed by companies affiliated with the Plans’ sponsor, McKinsey, and failed to monitor the Plans’ recordkeeping expenses. The Defendants deny all claims and assert that they have always acted prudently and in the best interests of participants and beneficiaries. Defendants believe that the Plans’ investment options performed well, and that the Plans’ fees were reasonable and appropriate.