On August 15, 2025, Williams-Lenzey, et al (“Plaintiffs”) filed a class action complaint against Empower Retirement, LLC., Empower Financial Services, Inc., and Empower Annuity Insurance Company of America for breaches of fiduciary duties among other related alleged violations related to Empower’s cross-selling activities to divert low-fee plan assets to rollover IRA accounts through the use of high fee and proprietary investments in Empower Managed Account Program.
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