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Walgreens Hit With $300 Million 401(k) Lawsuit Over target-Date Funds

FYI: Walgreen Co. has been hit with a lawsuit alleging its "imprudent" decision to keep certain target-date funds in its 401(k) plan caused employees to lose $300 million in cumulative retirement savings.

The lawsuit, brought by 12 current and former participants in the $10.3 billion Walgreen Profit-Sharing Retirement Plan, claims the pharmacy chain "loaded" its 401(k) plan with a suite of poorly performing TDFs, the Northern Trust Focus Target Retirement Trusts.
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