Our Data Is An Asset, Say ERISA Plan Participants In Row Over Fiduciary Claims

Mealey's (July 23, 2020, 9:25 AM EDT) -- GALVESTON, Texas — In a July 6 opposition to a motion to dismiss, four participants in a 401(k) plan for Shell Oil Co. employees argue to a Texas federal court that their personal data counts as a plan asset and that a group of Fidelity-related companies, one of which serves as the plan's record-keeper, is contradicting common law, the Employee Retirement Income Security Act and three decades of Fidelity's own judicial representations in arguing otherwise (Charles Harmon v. Shell Oil Co., No. 3:20-cv-0021, S.D. Texas)....