Tonernews.com, November 15, 2023. USA
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Proposed class covers thousands of plan investors since 2014.
Company challenges would-be class as plagued by conflicts.
Konica Minolta Business Solutions USA Inc. employees challenging the fees and investment funds in their 401(k) plan asked a federal judge to certify their case as a class action covering about 9,000 people. The employees’ motion, filed Nov. 10 in the US District Court for the District of New Jersey, seeks a class covering all the Konica Minolta plan’s participants and beneficiaries since June 2014, with the defendants and their immediate family members excluded. The plan had between 8,117 and 9,220 participants with account balances during this period, according to the motion.
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