Litigation Attorney Discusses Excessive-Fee Case in Ignites

Business & securities litigation partner Rob Skinner is quoted in a September 23 Ignites article, discussing a recent excessive-fee lawsuit, in which the 401(k) plan of American Chemicals & Equipment, Inc. alleges that Principal Management Corporation and Principal Global Investors, LLC overcharged acquired fund fees for target-date funds. In the article, Mr. Skinner notes that suits like these impose “big litigation costs on fund advisors.” He continues, “Settlement is one way of avoiding these costs, but it doesn’t always buy peace.”