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New York Federal Judge Allows 3 Counts In Action Against Deutsche Bank

Mealey's (October 18, 2016, 11:25 AM EDT) -- NEW YORK — A New York federal judge on Oct. 13 allowed three counts in a putative class action complaint alleging that Deutsche Bank entities mismanaged their 401(k) plan in violation of the Employee Retirement Income Security Act to proceed, saying that the plaintiffs’ breach of fiduciary duty claim plausibly alleges that the plan fiduciaries breached their duties to act in the best interest of the plan and with due care by failing to remove excessively costly proprietary mutual funds (Ramon Moreno, et al. v. Deutsche...
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