Nearly a decade after papers were first filed in a Los Angeles federal court, the end may finally be in sight for litigants in Tibble v. Edison, the landmark 401(k) excessive fee lawsuit famous for making it to the Supreme Court.
A decision last week by the full Court of Appeals for the Ninth Circuit is sending the case back to the District Court, the next stop in a meandering legal odyssey that seems to have survived the extent of procedural options available to both the plaintiffs and defendants in the case.
Some industry watchers say the case set the table for a new generation of lawsuits against defined contribution plans.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
