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Waddell & Reed Must Face $7M Suit Over Funds In 401(k)

By Dean Seal ( February 26, 2018, 5:50 PM EST) -- 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....

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