Massachusetts Federal Judge Dismisses ERISA Action Against Fidelity

Mealey's (February 19, 2020, 9:38 AM EST) -- BOSTON — A consolidated purported class action involving allegations that Fidelity Management & Research and its affiliates violated the prohibited transaction rules of the Employee Retirement Income Security Act was dismissed by a federal judge in Massachusetts on Feb. 14, amid findings that the defendants do not qualify as fiduciaries under the statute (In re: Fidelity ERISA Fee Litigation, No. 19-10335, D. Mass., 2020 U.S. Dist. LEXIS 25951)....

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