The U.S. subsidiary of Dutch insurance giant Aegon has been sued by a participant in its 401(k) over claims she and other employees paid $40 million in excessive fees.
The plaintiff, identified as Georgia resident Lequita Dennard, is seeking class-action certification in the suit, which was filed last week in Los Angeles federal court. The defendants named include Aegon USA and another Aegon subsidiary, Transamerica Retirement Solutions, among others.
A spokesman for Aegon dismissed the allegations.
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