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Schapker v. Waddell & Reed Financial, Inc. et al
Case Number:
2:17-cv-02365
Court:
Nature of Suit:
Judge:
Firms
Companies
Sectors & Industries:
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November 20, 2018
Waddell & Reed Financial Reaches $4.9M Deal In ERISA Row
Waddell & Reed Financial Inc. has agreed to pay nearly $5 million to settle a proposed class' claims that the financial planning company chose affiliated investment options for its 401(k) plan over cheaper, better-performing alternatives in violation of the Employee Retirement Income Security Act, according to filings in Kansas federal court.
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February 26, 2018
Waddell & Reed Must Face $7M Suit Over Funds In 401(k)
A Kansas federal judge has denied a motion by Waddell & Reed Financial Inc. and its executives to drop a $7 million putative class action accusing them of selecting affiliate mutual funds with excessive fees and low returns for their employees' 401(k) plan, saying the allegations are well-pled and fall within the statute of limitations.