Schlichter Bogard & Denton Brings 401(k) Suit Against Anthem

Schlichter Bogard & Denton has brought suit in the Southern District of Indiana on behalf of more than 59,000 participants in Anthem Inc.'s 401(k) plan.

The complaint alleges that Anthem breached its fiduciary duty to plan participants, including by charging excessive recordkeeping fees and by failing to offer prudent investment options - decisions that have significantly reduced the retirement assets of thousands of Anthem plan participants and that have cost participants millions of dollars in excessive fees. The complaint also alleges that Anthem failed to adequately investigate and offer lower-cost investment options, which resulted in plan participants paying fees that were far higher than necessary and further depleting the assets of plan participants.

The named plaintiffs are all participants in Anthem's plan, which presently has more than $5 billion in assets. The case is captioned Bell v. Anthem, 15-cv-2062-TWP-DML. If you are a participant in the Anthem 401(k) and have questions, please contact Schlichter Bogard & Denton at 1-800-873-5297 or investigations@uselaws.com.