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Coca-Cola Company 401(k) plans may be paying excessive fees to the third party trustees of its retirement plan.
Investigation Source
- Nationwide
Investigation Scope
Category Information
Investigation Topics
- Investments
- Undisclosed Fees By Investment Advisors
- Retirement Asset
- Investment Advisor Duties
Product or Service
- 401(K)
Injury Type
- Monetary Loss
Investigation Details
investigation and potentiaql class action lawsuit against Coca-Cola Company.
The investigation centers around certain practices by the trustees of 401K retirement plans of The Coca-Cola Company (Coke) and Coca-Cola Enterprises, Inc. ("CCE"). The investigators have received information upon which a belief has been formed that the retirement plans of Coke and CCE are paying excessive fees to the third party trustees of these retirement plans. The fiduciaries of these plans have not taken any action to limit the excessive fees as a result of longstanding relationships with the trustees. Further, it is alleged that Coke and CCE may have allowed enormous sums of revenue sharing payments to be funneled from mutual funds to the trustees in return for the mutual funds being offered as part of the Coke and CCE 401K plans.
The investigation centers around certain practices by the trustees of 401K retirement plans of The Coca-Cola Company (Coke) and Coca-Cola Enterprises, Inc. ("CCE"). The investigators have received information upon which a belief has been formed that the retirement plans of Coke and CCE are paying excessive fees to the third party trustees of these retirement plans. The fiduciaries of these plans have not taken any action to limit the excessive fees as a result of longstanding relationships with the trustees. Further, it is alleged that Coke and CCE may have allowed enormous sums of revenue sharing payments to be funneled from mutual funds to the trustees in return for the mutual funds being offered as part of the Coke and CCE 401K plans.
Defendant Details
| Name (Stock Symbol) | Brief Description |
|---|---|
| Coca-Cola Company, The | The Coca-Cola Company manufactures, distributes, and markets nonalcoholic beverage concentrates and syrups worldwide |