Costello Law Group
Representing Clients Nationwide Free Initial Consultations
Local: 410-832-8800Toll Free: 877-418-0003

401k Suit Settles for $27.5 million

Twenty-four thousand of Ameriprise Financial Inc.'s past and present employees have settled their case against Ameriprise for $27.5 million. The retirement plan participants claimed that they were charged excessive fees by Ameriprise. The participants alleged that Ameriprise failed to ensure reasonable fees for the administrative services provided. The settlement also states that Ameriprise will charge a flat administrative fee for each participant, incorporate more fee disclosures, and make efforts to find the most economical investment options.

If you believe you have been victimized by securities fraud, financial malpractice, or theft by a FINRA registered broker, please call the securities attorneys of the Costello Law Group at (877) 418-0003 for a free consultation.

To read more, please visit: http://blogs.wsj.com/totalreturn/2015/03/26/another-suit-on-401k-fees-is-settled/ or http://www.investmentnews.com/article/20150326/FREE/150329942/ameriprise-to-pay-27-5-million-settlement-in-401-k-fiduciary-breach

No Comments

Leave a comment
Comment Information

Contact Our Firm

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy