PTC Workers Want 3,600-Person Class in 401(k) Fee Challenge

August 17, 2021

Aug. 17, 2021, 4:17 PM

Three participants in PTC Inc.'s $450 million 401(k) plan want their lawsuit challenging the plan’s fees and investment options certified as a class action covering more than 3,600 people, according to a motion filed in the District of Massachusetts.

Kristal Khan, Michelle Ballinger, and George Craan on Monday sought permission to represent a class of at least 3,633 people covered by PTC’s retirement plan since 2014. They supported their request with a “non-exhaustive list” of 74 decisions certifying classes in other fiduciary breach cases under the Employee Retirement Income Security Act, including 25 decisions certifying classes in lawsuits alleging excessive ...