trending Market Intelligence /marketintelligence/en/news-insights/trending/U3ilpc_oigdjBMjjH0ztVg2 content esgSubNav
In This List

Court grants class-action status to lawsuit against Franklin Resources

Blog

Commercial Banking: June 22nd Edition

Blog

Insight Weekly: Path to net-zero; US manufacturing momentum; China's lithium M&A frenzy

Blog

Commercial Banking Newsletter June Edition - 2022

Podcast

Street Talk | Episode 96: Considering recession risks, prospects that the Fed achieves a 'soft landing'


Court grants class-action status to lawsuit against Franklin Resources

U.S. District Court for the Northern District of California on July 26 granted class-action status to a lawsuit filed against Franklin Resources Inc.

The complaint was filed in 2016 on behalf of the Franklin Templeton 401(k) Retirement Plan for alleged breach of fiduciary duties by Franklin Resources and the plan's investment committee, among other things.

A motion by the company to dismiss, and motion for summary adjudication were denied in January.

Franklin Resources has vowed to defend itself against the litigation, saying the claims made in the lawsuit are without merit. The company did say, however, that it cannot predict the outcome of the lawsuit at this stage or estimate the possible loss or range of loss that may arise from any negative outcome.