Preliminary OK Sought For $5M Deal In ERISA Suit Over Proprietary Funds

Mealey's (March 23, 2023, 11:59 AM EDT) -- NEW YORK — The plaintiffs in an Employee Retirement Income Security Act suit against a financial services company and a related defendant over allegedly expensive and underperforming proprietary funds have moved in New York federal court for preliminary approval of a $5 million class settlement they say would involve approximately 2,600 class members....