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Excessive Fee Lawsuit Rejected By Appeals Court
A lawsuit alleging that Edison International improperly favored high-fee funds for its 401(k) plan has been rejected by 9th U.S. Circuit Court of Appeals in San Francisco. The U.S. Supreme Court had previously ruled that the litigation must be reheard. So reports Reuters.
In rejecting the litigation, the appeals court ruled that claims made by the plaintiffs were different than those considered by the Supreme Court, but the action is expected to make it easier for lawsuits to be filed against retirement plan sponsors.
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