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On January 17, 2023, we filed a lawsuit on behalf of participants in Allianz Asset Management of America, L.P. 401(k) Savings and Retirement Plan, (the “Plan”). The lawsuit alleges that the Plan’s fiduciaries (the Defendants in the case) violated the Employee Retirement Income Security Act (ERISA) by failing to act prudently or in the interest of Plan participants and beneficiaries in managing the Plan’s investment options.
Among other things, the lawsuit alleges that Defendants breached their fiduciary duties by providing imprudent investment options affiliated with Allianz in the plan menu. If you believe you may have been shortchanged as a result of the alleged mismanagement of the Plan, please contact Mary Arend, our Intake Clerk, by phone at (612) 256-3246 or by email at marend@nka.com.
The lawsuit seeks to recover the Plan’s financial losses and other equitable relief. For a copy of the Complaint, click here.
This case is entitled Rocke v. Allianz Asset Management of America, L.P., et al Case No. 8:23-cv-00098 (C.D. Cal.)
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