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Koch Industries Case

Koch affiliated plans, as part of a master trust arrangement, are the subject of an excessive fee lawsuit in which plan participants (former and current) claim that Koch’s failure to execute fiduciary monitoring duties, led to millions of dollars of participant losses resulting from excessive fees. Allegations include failure to monitor and evaluate performance of astute fiduciary appointees, fiduciary processes of such appointees, as well as failure to remove such individuals who did not exercise such processes. The claims are based on inferences resulting from the information currently available and are expected to be further supported through the discovery process.

www.napa-net.org; July 21, 2020.