Despite some major recoveries in class actions over excessive 401(k) fees, the group of lawyers litigating these cases remains small, as few are willing to put the whole firm at risk.
“This is too big to do it in an incremental way. It does change the firm. It does mean that you put a massive amount of investment in up front,” said Jerome Schlichter, a founding partner at 21-attorney Schlichter Bogard & Denton.
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Lizzy McLellan
Lizzy McLellan is a senior editor on ALM's business of law desk. Contact her at [email protected]. On Twitter: @LizzyMcLell
