Judge Stays Prohibited Transactions Dispute Pending Approval Of Settlement

Mealey's (December 11, 2018, 8:35 AM EST) -- OAKLAND, Calif. — A California federal judge on Dec. 7 signed an order granting joint stipulation to stay pretrial and trial deadlines for 60 days after the parties announced that they reached an agreement in principle to settle a former employee’s lawsuit accusing his employer and its retirement plan investment committee of violating the Employee Retirement Income Security Act by charging 401(k) plan participants excessive fees and engaging in prohibited transactions (Marlon H. Cryer, et al. v. Franklin Resources, Inc., et al., No. 16-4265, N.D. Calif.)....