401(k) Plan Participants File Suit, Allege Fiduciaries Breached Duty Of Prudence

(January 14, 2019, 10:36 AM EST) -- CEDAR RAPIDS, Iowa — Participants in Transamerica Corp.’s 401(k) plan allege in a Dec. 28 class action complaint filed in Iowa federal court that the plan fiduciaries breached their duty of prudence by mismanaging the plan and failing to remove underperforming investment portfolios, managed by a Transamerica affiliate, from the plan’s investment options (Jeremy Karg, et al. v. Transamerica Corp., et al., No. 18-1042, N.D. Iowa)....

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