Northrop Grumman 401(k) Excessive Fee Suit Granted Class Certification

On Thursday November 3, a California federal judge granted class certification in an ERISA suit brought by Schlichter Bogard & Denton on behalf of participants in a 401(k) plan sponsored by Northrop Grumman. In granting class certification, U.S. District Judge Andre Birotte Jr. found the named plaintiffs to be adequate class representatives and appointed Schlichter Bogard & Dentonas class counsel for a class of more than 100,000 participants in the Northrop Grumman Savings Plan.

When interviewed, Schlichter Bogard & Denton’s founding and managing partner Jerome Schlichter said he was “pleased” with the Court’s ruling, noting that it follows another 401(k) suit against Northrop also brought by Schlichter Bogard & Denton, which recently settled for $16.75 million.

News coverage related to this story can be found here and here.

For additional information about Schlichter Bogard & Denton’s ERISA and Financial Abuse practice, please contact Schlichter Bogard & Denton at 1-800-873-5297 or sbd@uselaws.com.