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

What Is The Class Action About. In the Class Action, the Class Representatives claim that the Defendants failed to prudently monitor and control the Plans’ brokerage expenses and failed to prudently monitor certain Plan investments affiliated with the Plans’ recordkeeper (Voya). Specifically, the Class Representatives claim that the brokerage expenses charged to the Plans were unreasonable and that Defendants failed to adequately monitor the fees and performance of four Voya funds. A more complete description of what Plaintiffs allege is in the Amended Complaint, which is available on the Settlement Website at [xxx.xxxxxxxxxxxxxxxxx.xxx]. The Defendants have denied and continue to deny all of the 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. Defendants, deny all allegations of wrongdoing made in the Amended Complaint in this Action, and deny that the Class Representatives, the Plans, or any of the Plans’ current or former participants suffered any losses. Defendants further maintain that they acted prudently and loyally at all times when acting in any fiduciary capacity with respect to the Plans.

What Is The Class Action About. In the Class Action, the Class Representatives claim that the Defendants failed to prudently monitor and control the Plans’ brokerage expenses and failed to prudently monitor certain Plan investments affiliated with the Plans’ recordkeeper (Voya). Specifically, the Class Representatives claim that the brokerage expenses charged to the Plans were unreasonable and that Defendants failed to adequately monitor the fees and performance of four Voya funds. A more complete description of what Plaintiffs allege is in the Amended Complaint, which is available on the Settlement Website at [xxx.xxxxxxxxxxxxxxxxx.xxx]. The Defendants have denied and continue to deny all of the 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. Defendants, Defendants deny all allegations of wrongdoing made in the Amended Complaint in this Action, and deny that the Class Representatives, the Plans, or any of the Plans’ current or former participants suffered any losses. Defendants further maintain that they acted prudently and loyally at all times when acting in any fiduciary capacity with respect to the Plans.