New wave of lawsuits hits 401(k) plans.(LAST WORD ON 401(k) PLANS)

According to media reports, the law firm of Schlichter, Bogard & Denton has filed a wave of lawsuits against large 401(k) plans alleging improper conduct regarding 401(k) plan fees. This firm is known for representing plaintiffs in class action lawsuits regarding a variety of matters. The complaints in these cases have been described as "cookie-cutter" documents because their language is very similar. They reportedly name the employer sponsoring the 401(k) plan as the defendant and sometimes also name plan fiduciary committees and various individual members of these committees. The suits allege various breaches of fiduciary duties and prohibited transactions regarding …