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Brenntag Settles Excessive Fee Lawsuit
The agreement is solely monetary and doesn’t include provisions to remedy the alleged breaches of the defendants.
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Brenntag North America has agreed to pay $2.3 million to settle a lawsuit alleging the company and other fiduciaries of the Brenntag USA Profit Sharing Plan failed to take measures to ensure reasonable investment and recordkeeping fees.
The lawsuit accused Brenntag, as the sponsor of a large plan, of failing to use its bargaining power to reduce plan expenses and also failing to scrutinize each investment option to make sure it was prudent. The plaintiffs said the defendants failed to use the lowest cost share class available for many of the mutual funds within the plan and failed to consider collective trusts, commingled accounts or separate accounts (at least for the majority of the class period) as alternatives to the mutual funds in the plan, despite their lower fees. ....

Brenntag North America , Brenntag United States Profit Sharing Plan , ப்ரெண்டாக் வடக்கு அமெரிக்கா , ப்ரெண்டாக் ஒன்றுபட்டது மாநிலங்களில் ப்ராஃபிட் பகிர்வு திட்டம் ,