Sequoia blow-up triggers a lawsuit of Disney employees mad at their 401(k) committee…
The committee “clearly knew or should have known that the Sequoia Fund was an imprudent investment,” the lawsuit said. “A prudent fiduciary would have recognized that….the Plan’s significant investment of employees’ retirement savings in the Sequoia Fund would inevitably result in devastating losses to the Plan and, consequently, to the Plan’s Participants.”
I can’t.
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If your 401(k) plan is jacked up, talk to Dan McConlogue, our resident corporate retirement plan specialist. He’s like a one-man Ghostbuster team.
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