Schlichter Bogard & Denton Files 401(k) Fiduciary Lawsuit on Behalf of Participants in Shell Oil Co.’s $10.5 Billion Plan
On Friday, January 24, Schlichter Bogard & Denton filed suit in the Southern District of Texas against Shell Oil Co. on behalf of participants in its $10.5 billion 401(k) plan. The complaint alleges that Shell breached its fiduciary duty to plan participants by, among other things, over-relying on the proprietary funds of its recordkeeper, Fidelity, and allowing for recordkeeping fees that were over five times higher than the industry standard.
As pioneers in 401(k) litigation, Schlichter Bogard & Denton has been safeguarding Americans’ retirement assets for fourteen years. To read about other high-impact cases handled by Schlichter Bogard & Denton, click here. For additional information about Schlichter Bogard & Denton’s ERISA and Financial Abuse practice, please contact us at 1-800-873-5297 or firstname.lastname@example.org