Settlement In Principle Reached In BlackRock Fiduciary Duty Case

Mealey's (February 19, 2021, 7:59 AM EST) -- OAKLAND, Calif. — A federal judge in California on Feb. 5 granted relief from all case deadlines for six weeks in a lawsuit brought by participants in BlackRock Inc.’s 401(k) plan who allege that the plan’s investor improperly favored its own proprietary funds when selecting investment options in violation of the Employee Retirement Income Security Act after the parties reached a settlement in principle, according to a docket entry....

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