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Invesco settles their lawsuit

Invesco

A lawsuit against the Invesco 401(k) plan has been settled for $3.47 million.

 

Also, Invesco agreed to modify the investment options offered through the plan’s self-directed brokerage account option so that plan participants will be permitted to invest in non-proprietary exchange-traded funds (ETFs) in addition to the proprietary ETFs offered to participants.

 

As I always say, offering your proprietary products in your 401(k) plan is going to make you a target for a class-action lawsuit.

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