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ARTICLE · 23 DECEMBER 2011

Settlement In Major 401(k) Fee Case Is Preliminarily Approved

Goodwin Procter LLP
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On December 5, 2011, the U.S. District Court of the Western District of Missouri preliminarily approved an agreement by the parties to settle the putative class action claims asserted by participants in Wal-Mart Stores Inc.’s 401(k) plan.

United StatesLitigation, Mediation & Arbitration
Goodwin Procter'S ERISA Litigation Practice
Goodwin Procter'S ERISA Litigation Practice
Article by Wilfred J. Benoit Jr , Deborah S. Birnbach , John J. Cleary , Daniel P. Condon , James S. Dittmar , Alison V. Douglass , Anthony M. Feeherry , James O. Fleckner , Robert M. Hale , Michael K. Isenman , James W. Nagle , Brian E. Pastuszenski , Stephen D. Poss and Brenda R. Sharton .

On December 5, 2011, the U.S. District Court of the Western District of Missouri preliminarily approved an agreement by the parties to settle the putative class action claims asserted by participants in Wal-Mart Stores Inc.'s 401(k) plan.

In Braden v. Wal-Mart Stores, Inc., et al., Case No. 6:08-cv-3109-GAF (W.D. Mo.), a plan participant asserted putative class claims against the plan's employer-sponsor and the plan's named fiduciary, alleging, among other things, excessive and undisclosed fees and imprudent selection of investment options, which included 10 retail class mutual funds, most of which were actively managed. The plaintiff also alleged

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