What is the class action claim?
The Goldman Sachs 401(k) Plan, for over the past six years, has been investing employees’ 401(k) retirement assets in hedge funds with excessive fees & risky investments that have incurred losses. In addition, these hedge funds are managed by hedge fund managers rife with conflicts of interest. These excessive fees, risks, losses & conflicts are paid for & borne by all Goldman Sachs current & former employees who have participated or are participating in the GS 401(k) Plan. It is alleged that these investments in hedge funds with their excessive fees, risks & conflicts of interest are in violation of ERISA. This class action seeks to recover for all current & former GS 401(k) participants the excessive hedge fund fees paid over the past 6 years, related losses & to eliminate unnecessary risks & conflicts of interest.
Who can join this class action?
Any current or former Goldman Sachs employees who also participated in The Goldman Sachs 401(k) anytime over the past 6 years.
Is there any cost to me?
No. All plaintiff attorneys are litigating this case on a contingency fee basis.