Settlement Preliminarily Approved In Prohibited Transactions Dispute

(June 11, 2019, 9:05 AM EDT) -- OAKLAND, Calif. — A California federal judge on June 3 granted a motion for preliminary approval of an almost $14 million class action settlement in a suit alleging that an employer and its retirement plan investment committee violated 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, c/w No. 17-6409, N.D. Calif.)....