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California Federal Judge Lets Class Action Against Asset Management Firm Proceed

(August 11, 2016, 11:46 AM EDT) -- SANTA ANA, Calif. — A California federal judge on Aug. 5 denied in part defendants’ motion to dismiss a first amended class action complaint alleging that mismanagement of their asset management company’s 401(k) plan led to “outrageously high” expenses for plan participants, rejecting their arguments that the claims are time-barred and that the plaintiffs do not have standing to challenge plan investment options (Aleksandr Urakhchin, et al. v. Allianz Asset Management of America LP, et al., No. 8:15cv1614, C.D. Calif.; 2016 U.S. Dist. LEXIS 104244)....
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