Bailey & Glasser Files Motion to Approve ERISA Class Action Settlement Against Principal Financial Group

On June 29, 2015, Bailey & Glasser partner Gregory Porter filed a motion to approve a multi-million dollar class action settlement against Principal Financial Group.  Principal is a global financial services company with over $500 billion in assets under management.  Porter represented Principal employees in an ERISA class action alleging that Principal charged its own retirement plans excessive fees. Porter successfully negotiated a settlement that yields over ten million dollars in cash and future benefits and important structural changes to Principal’s retirement plans. The complaint and the settlement papers can be found here:

Filed Anderson v Principal Complaint

Settlement Agreement with Exhibits

Memorandum in Support of Motion for Preliminary Approval of Settlement

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