Typicality Requirement Is Met In 401(k) Class Certification, 3rd Circuit Affirms

Mealey's (June 2, 2022, 1:00 PM EDT) -- PHILADELPHIA — Affirming a grant of class certification that was appealed because the class representatives did not invest in all of the 401(k) plan’s funds challenged under the Employee Retirement Income Security Act, a Third Circuit U.S. Court of Appeals panel on June 1 ruled the typicality requirement met on the grounds that the “representatives allege actions or a course of conduct by ERISA fiduciaries that affected multiple funds in the same way.”...

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