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Northern Trust Self-Dealing Case

At issue in this case is the continued offering of poorly performing proprietary Northern Trust investments, namely the Northern Trust Focus Target Retirement Trusts, in the Northern Trust Company Thrift-Incentive Plan. Plaintiffs are seeking to capture plan losses resulting from the continued product offering through the class period June 1, 2015 through present, and are requesting the court order the defendants, Northern Trust, and its employee benefit administrative committee to disgorge any profits made due to the breach. Plaintiffs are also pursuing “equitable relief” and “plan reformation to include only prudent investments.”

www.planadviser.com; June 7, 2021.